• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin on the Verge of a Major Breakout: Historical Trends Affirm Bullish Sentiment

user avatar

by Giorgi Kostiuk

6 hours ago


Bitcoin appears to be on the verge of a major bull phase according to historical price trends. Past movements suggest a pattern of ascending channels followed by explosive rallies.

Historical Price Patterns Indicate a Powerful Uptrend

According to Javon Marks, Bitcoin has always made price movements along ascending wedges before significant breaks. The first such pattern formed in 2012, with subsequent growth until late 2013. This was followed by a correction, and another ascending channel before a sharp rise in late 2017. After the 2017 peak, Bitcoin entered a long consolidation period, which concluded with a rally in 2020.

Bitcoin has always made price movements along ascending wedges before historical breaks.Javon Marks

Bitcoin Nears Key Resistance Level Amid Strong Buying Pressure

Currently, Bitcoin is approaching a resistance zone at $83,500 to $85,000 with a current price of $84,321.52. Market trends show strong demand at lower support levels, especially between $76,000 and $78,000. A break above $84,500 could trigger further upward momentum towards the next resistance level at $88,000.

The Prospects of Bitcoin's Further Growth

With strong market fundamentals and historical trends, Bitcoin's price structure remains optimistic. The ascending wedge pattern aligning with previous breakout cycles reinforces the likelihood of upward movement soon.

Historical trends and current market conditions suggest a potential bullish breakout for Bitcoin. Breaking above key resistance levels could serve as a catalyst for further growth.

0

Share

Other news

Ripple Labs Resumes RLUSD Issuance to Meet Market Demand

Ripple resumes RLUSD issuance, increasing its supply by 6.5 million units.

user avatarGiorgi Kostiuk

10 minutes ago

David Sacks' Crypto Sell-Off Before Starting White House Role

David Sacks sold $200M in crypto assets before his White House appointment to avoid conflicts of interest.

user avatarGiorgi Kostiuk

16 minutes ago

VanEck Announces Plans to Launch AVAX ETF

VanEck filed for its first AVAX ETF, continuing its efforts in niche investment products.

user avatarGiorgi Kostiuk

16 minutes ago

Ripple Labs Restarts RLUSD Production Confirming Market Confidence

Ripple Labs resumed RLUSD issuance on XRP Ledger and Ethereum after a week pause, introducing 6.5 million tokens.

user avatarGiorgi Kostiuk

20 minutes ago

Minnesota Cryptocurrency Bill: Details and Implications

Minnesota considers a cryptocurrency bill proposing new investment and tax opportunities.

user avatarGiorgi Kostiuk

32 minutes ago

Bitcoin Demand Weakening Since December 2024

CryptoQuant's report signals diminished interest in Bitcoin trading since December, affecting global crypto markets.

user avatarGiorgi Kostiuk

32 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.