BitcoinThe price has shown remarkable performance over the past few days, revisiting the key threshold of $100,000. With the general crypto market recovery following the recent news about the inauguration of Donald Trump as the new President of the United States, BTC may gain enough momentum to reclaim its current all-time high.
A key chart structure emerges as Bitcoin recovers
As the momentum in the market increases, the information platform IC News has referred to A price trend on the Bitcoin chart that could start a significant rally for BTC in the short term. Looking at BTC’s movements, the platform highlighted that a significant falling gap is forming on its chart.
A falling gap formation, which is often associated with a bullish reversal, indicates that an upward move for BTC may be on the horizon. This coming Chart pattern has caught the attention of traders and investors, leading to speculation about a possible continuation of the recent rally.
After examining the 1-day chart, IC News said that BTC is stabilizing below the significant The $100,000 mark After briefly rising above the level twice. Meanwhile, the market is currently locked within the emerging large bearish gap formation.
Similar trends in the past have provoked the beginning of significant price increases, increasing interest in the next move of the flagship property. A comparable scenario could play out, given the market’s resurgence, leading to a much-anticipated rally for Bitcoin to its all-time high.
Should the asset break the pattern with strong momentum, the platform predicts an explosive rise to new highs in the coming months. Additionally, IC News expects the rally to push BTC towards the $120,000 milestone, a landmark New all-time high.
Has BTC reached its peak for this cycle?
After reaching its current peak of $108,000 last month, Bitcoin saw a sharp decline, fueling speculation that the asset has reached its peak for the cycle. However, some crypto analysts argue that btc Not yet near its peak as it still has a long way to go in the current cycle.
Market experts and creators address the discussion and confusion in the StockMoney Lizards community highlighted That Bitcoin is only halfway to its peak. His view comes after the flagship asset’s recent surge, reclaiming the $100,000 level.
Comparing this cycle to previous ones using the post-halving trend, Stockmoney Lizards noted that BTC had not reached the top of the channel as indicated on his chart. In addition, no relative strength index-based peak indication is provided, and Price of BTC Still above the blue channel after a brief retest.
As a result, the expert expects a rally to the top, predicting a path to the $200,000 milestone by the end of the year. with On-chain metrics And with historical trends pointing to the potential for continued growth, the cycle’s peak is expected to begin in the coming months.
Featured image from Unsplash, chart from Tradingview.com
