Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week
Bitcoin (BTC) price rose above $105,000 during US trading, following a double bottom pattern on the 1-hour chart. Liquidity around $102,500 was cleared, potentially setting the stage for new highs this week. The current price range of $106,300 to $100,600 mirrors a previous range, suggesting possible consolidation between $103,500 and $105,200. If this pattern holds, Bitcoin could break above $107,000 and reach over $110,000. Failure to maintain $103,500 may lead to a retest of $102,000, risking new lows. Investor behavior shows increased accumulation among small and larger holders, indicating growing market confidence. However, a bearish divergence on the daily chart could hinder BTC's chances for new highs. Analysts emphasize the need for upward movement to avoid confirming bearish divergence.
