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Bitcoin’s price is on the rise in 2025. After a slow start, it has been gaining momentum since the second quarter. Bitcoin’s price surpassed $100,000 earlier this week. It seems that the cryptocurrency is making a bid for its all-time high price This weekend, you can expect to spend $108,786.
BTC seems to have turned the switch, and investors feel like the biggest crypto market has returned to its previous level at the end 2024. According to an expert in crypto, the selling pressure seen during the first months of 2018 is part of a larger price breakout.
Does BTC follow this cup and handle pattern?
Aksel kibar (CMT), chartered markets technician, posted a message on X’s website. shared A fascinating update about his latest Bitcoin price analysis. A market analyst revealed in an early November 2024 social media post a long term breakout signal for BTC.
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The Bitcoin and Crypto markets experienced a bullish surge following Donald Trump’s victory as United States president. Kibar stated that BTC had broken above an important price level (on a monthly time frame) due to the post-election rally.
Bitcoin’s price has risen above the previous chart. “minor high” The former high was $73,737. Kibar’s chart based on historical patterns shows that whenever the cryptocurrency reaches the minor peak in the cycle, it goes on a parabolic run.
The cup and handle pattern is a pattern of technical analysis that looks like a letter-shaped cup. “u,” And the handle shows a small downward tilt. Cup and handle are considered bullish patterns, signaling the continuation of a trend upward.
The price of BTC rose after the break of $73.737 until reaching a valuation of six figures. Bitcoin’s price suffered a major correction from $73.737 to about $74,000. reaching its current all-time high In January,
Bitcoin appears to have only seen a small pullback from the “minor high” The primary trend will continue to rise before it resumes. Kibar set the target price for the leader of the market at $137,000 in this scenario. This represents a 33% increase from its current level.
Bitcoin Price in a Glimpse
BTC’s price is around $103,071 as of the time of writing. This represents an increase of nearly 1% in the last 24 hour. CoinGecko data shows the leader of the cryptocurrency market is up more than 6% over the last week.
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Featured image is from iStock. Chart from TradingView
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Source: www.newsbtc.com
