Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC?
Summary
Bitcoin (BTC) reached a new all-time high (ATH) of $109,800 after breaking through the $107,000 resistance. The cryptocurrency has surged approximately 47% from a five-month low of $74,000 over the past seven weeks. Analysts indicate that Bitcoin may not have reached its peak yet, with targets suggesting a potential rise to $140,000. BTC's recent price action has formed an ascending triangle pattern, indicating further upward momentum. Following a bullish breakout, Bitcoin retested the $108,000 barrier before rallying past its previous ATH. Analysts predict a strong price expansion towards $125,000-$130,000 after breaking previous resistance levels. Currently, Bitcoin trades at $107,502, 1.8% below its ATH.
