Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week
The post Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week appeared on BitcoinEthereumNews.com. Key takeaways: Bitcoin onchain and technical data suggest new all-time highs are imminent. Glassnode data shows most Bitcoin wallet cohorts accumulating BTC. A daily timeframe bearish divergence signals fading momentum, raising doubt on BTC’s ability to rally into the $120,000 to $130,000 range. Bitcoin (BTC) price rallied back above $105,000 during the US market trading session, after forming a double bottom pattern in the 1-hour chart. Bitcoin 1-hour chart. Source: Cointelegraph/TradingView Available liquidity around the $102,500 zone was swept, possibly laying the foundation for new Bitcoin price highs this week. Bitcoin fractals hint at new all-time highs Bitcoin’s current range between $106,300 and $100,600 represents a similar setup to its previous range between $97,900 and $92,700. The price action pattern can be summarized into three different conditions: Range lows and range highs led to immediate trend reversal. A double bottom occurred after range highs ($97,900 and $107,144) were formed. The double bottom formation occurred above range lows, sweeping internal liquidity levels, but the bottom. Bitcoin price fractal analysis. Source: Cointelegraph/TradingView Bitcoin could consolidate between $103,500 and $105,200 (orange boxes) over the next 24 hours, mirroring its earlier sideways movement between $95,800 and $97,300. If this pattern holds, it could increase the chances of Bitcoin breaking above $107,000, potentially reaching new highs above $110,000 this week. Conversely, a failure to hold $103,500 could lead to a retest of the $102,000 support. This would be treated as an invalidation of the price fractal, which could open the possibility of new lows under $102,000 in the coming days. Related: Bitcoin ignores Moody’s US debt downgrade, rallies back to $105K after profit-taking sell-off Will Bitcoin overcome a daily bearish divergence? Glassnode revealed a significant shift in Bitcoin investor behavior, with the latest Accumulation Trend Score chart showing small holders with less than 1 BTC…
The post Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week appeared on BitcoinEthereumNews.com.
Key takeaways: Bitcoin onchain and technical data suggest new all-time highs are imminent. Glassnode data shows most Bitcoin wallet cohorts accumulating BTC. A daily timeframe bearish divergence signals fading momentum, raising doubt on BTC’s ability to rally into the $120,000 to $130,000 range. Bitcoin (BTC) price rallied back above $105,000 during the US market trading session, after forming a double bottom pattern in the 1-hour chart. Bitcoin 1-hour chart. Source: Cointelegraph/TradingView Available liquidity around the $102,500 zone was swept, possibly laying the foundation for new Bitcoin price highs this week. Bitcoin fractals hint at new all-time highs Bitcoin’s current range between $106,300 and $100,600 represents a similar setup to its previous range between $97,900 and $92,700. The price action pattern can be summarized into three different conditions: Range lows and range highs led to immediate trend reversal. A double bottom occurred after range highs ($97,900 and $107,144) were formed. The double bottom formation occurred above range lows, sweeping internal liquidity levels, but the bottom. Bitcoin price fractal analysis. Source: Cointelegraph/TradingView Bitcoin could consolidate between $103,500 and $105,200 (orange boxes) over the next 24 hours, mirroring its earlier sideways movement between $95,800 and $97,300. If this pattern holds, it could increase the chances of Bitcoin breaking above $107,000, potentially reaching new highs above $110,000 this week. Conversely, a failure to hold $103,500 could lead to a retest of the $102,000 support. This would be treated as an invalidation of the price fractal, which could open the possibility of new lows under $102,000 in the coming days. Related: Bitcoin ignores Moody’s US debt downgrade, rallies back to $105K after profit-taking sell-off Will Bitcoin overcome a daily bearish divergence? Glassnode revealed a significant shift in Bitcoin investor behavior, with the latest Accumulation Trend Score chart showing small holders with less than 1 BTC…
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