A cryptocurrency trading expert predicts that Bitcoin may be forming a bottom, based on technical indicators, before a potential rally to a new all-time high. The analysis suggests that Bitcoin's current consolidation below $90,000 is similar to previous patterns that preceded major upside moves. The key confirmation for a breakout is Bitcoin crossing above its four-hour 200-moving average. If Bitcoin follows previous triangle breakouts, it could reach the 1.786 Fibonacci extension level, placing it near $120,000 in the medium term. Another analyst also suggests a potential breakout to a six-figure valuation for Bitcoin based on a falling wedge pattern. Despite President Trump's announcement of a Bitcoin Strategic Reserve, the cryptocurrency has continued to struggle, and some market players remain skeptical of the reserve. To reach $120,000, Bitcoin must first reclaim $90,000 and then break $100,000.



Other News from Today