After the experience baisse -liked reductions and volatilityBitcoin (BTC) finally looks hausse, with a crypto analyst forecasting A breakout to a new high goal. After identifying a cup and handle pattern on the Bitcoin diagram announced the analyst to investors and traders who can now be the Time to buy btc.
Bitcoin pricing new highest times
In a detailed bitcoin -price chart, cobravanguard, a tradingview crypto analyst, illuminates Formation of a textbook cup and handle pattern. This technical pattern is a well -known pale continuing indicator, which signals that momentum can be built up and that bitcoin may be at Verge of a strong price rally.
Interestingly, the diagram also shows other important technical indicators. A Rising triangle patternwhich was characterized by a flat upper resistance line and a rising lower trend line, found. This technical pattern is another raisy formation that often precedes a rally, which signals increased purchase pressure.
Speaking of Purchase Pressures, Cobravanguard illustrates that the emergence of two Haussearted technical patterns On the Bitcoin diagram can be an indication to buy and Hodl. With the price below $ 100,000 and is currently traded at $ 95,806, an imminent price rally would mean that it may now be the most optimal time to enter the market.
Based on these designs, the TradingView analyst has set a New target for bitcoin. He predicts that pioneer Cryptocurrency will reach $ 120,000 in the coming weeks. This would mark a new highest time, EXCEPT previous market peaks obtained earlier this year.
Especially Cobravanguard has also identified a AB = CD -harmonic patterns on the diagram in addition to a cup and handle and rising triangle pattern. This AB = CD indicator suggests symmetry in Bitcoin price movements And signals a measured move to the upside when the pattern is completed.
Although the TradingView analyst predicts that the supply can reach $ 120,000, he highlights that if its outbreak from the above -mentioned hausse -like patterns remains, a higher target of $ 124,619 can be reached.
Whales go on massive BTC -buying spree
The Bitcoin Köppress remainsBecause whales snap up as much BTC as they can during their current descent. These deep -knocked investors are known to make strategic purchases, which often enter the market during volatile and declining periods and then sell on market peaks.
According to New reports from Coinvo on X (formerly Twitter), Bitcoin whales Currently purchasing “a crazy” amount of BTC. By sharing a detailed chart that shows Bitcoin’s inflows to accumulation addresses, Coinvo highlights a sharp increase in inflows, which indicates that whales actively buy BTC in large quantities.
This behavior is often seen before potential price collections, as accumulation tends to drive demand higher. As a result, Coinvo has indicated that Increased electoral activity May be a sign to start buying BTC.
Image from Unsplash, chart from tradingview.com
