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Bitcoin’s Deja Vu: A Bullish Flag Unfolds Towards a Historic ATH
In March 2020, (BTCUSD) Bitcoin reached a low on Friday the 13th, forming a bullish flag pattern that initiated a new upward cycle.
A similar formation appeared on August 5, 2024, indicating the continuation of this bullish trend.
Currently, Bitcoin is at the PR3 price level, establishing a base support around $108,923.
The next resistance is at QR1, approximately $197,491. Upon reaching this level, a slight correction to around $145,669 is anticipated before continuing to the final all-time high (ATH) at QR2, set near $281,216. From this peak, a significant correction to the correction support level (CS2) at $145,669 is expected.
Analysts are optimistic about Bitcoin's trajectory. H.C. Wainwright forecasts a rise to $225,000 by the end of 2025, considering historical price patterns and potential favorable regulatory changes under the Trump administration.
Additionally, Standard Chartered projects Bitcoin could reach $150,000 in 2025, aligning with historical trends of major rallies post-U.S. presidential elections and following halving events.
However, Bitcoin's inherent volatility remains a concern. Predictions suggest potential corrections of 15% to 30% during the bull run before reaching higher price targets.
In conclusion, Bitcoin's current market structure and historical patterns indicate a bullish trajectory with potential significant price levels and corrections. Investors should remain vigilant and consider market volatility when making investment decisions.
BTCUSD) Bitcoin reached a low on Friday the 13th, forming a bullish flag pattern that initiated a new upward cycle. A similar formation appeared on August 5, 2024, indicating the continuation of this bullish trend.
Currently, Bitcoin is at the PR3 price level, establishing a base support around $108,923.
The next resistance is at QR1, approximately $197,491. Upon reaching this level, a slight correction to around $145,669 is anticipated before continuing to the final all-time high (ATH) at QR2, set near $281,216. From this peak, a significant correction to the correction support level (CS2) at $145,669 is expected.
Analysts are optimistic about Bitcoin's trajectory. H.C. Wainwright forecasts a rise to $225,000 by the end of 2025, considering historical price patterns and potential favorable regulatory changes under the Trump administration.
Additionally, Standard Chartered projects Bitcoin could reach $150,000 in 2025, aligning with historical trends of major rallies post-U.S. presidential elections and following halving events.
However, Bitcoin's inherent volatility remains a concern. Predictions suggest potential corrections of 15% to 30% during the bull run before reaching higher price targets.
In conclusion, Bitcoin's current market structure and historical patterns indicate a bullish trajectory with potential significant price levels and corrections. Investors should remain vigilant and consider market volatility when making investment decisions.
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