Cryptocurrency market analysis shows Bitcoin advancing towards a new all-time high amid sustained bullish momentum.
Technical Chart Patterns
A recent tweet by crypto analyst Gert van Lagen reveals Bitcoin’s chart configuration identifying an inverse head and shoulders pattern, indicating strong bullish momentum. The chart also shows a parabolic curve following several accumulation phases supporting the bullish trend. The diagram includes four bases labeled Base 1 through Base 4, indicating steady accumulation by institutional and long-term investors.
Key Price Levels
Technical analysis highlights a critical neckline between $73,000 and $75,000. A retest of this level could confirm support for further upward movement. A sustained bounce is projected to extend the price toward the $250,000 to $300,000 range. Maintaining support above the neckline remains a crucial factor in the technical outlook.
Market Trends and Projections
Bitcoin maintained a market value of $85,741.59 at the moment of this writing, with a trading volume of $33,214,051,022. It climbed 4.55% during the recent day and 3.61% within the previous week. Elliott Wave theory supports the current technical outlook by marking Waves (3), (4), and the anticipated Wave (5). The final wave is expected to push prices into the six-figure range.
This detailed analysis underscores a structured, sustained rally that traders and investors closely follow.
