🎉🚀 Bitcoin enthusiasts, get ready for a potential new all-time high! 🚀🎉 BTC's price has bounced back from the $65K level and is now eyeing a fresh peak.

📈 The daily chart shows a large symmetrical triangle pattern, with the market testing the higher boundary. If BTC breaks above this line, a rally toward $75K could be on the cards. The Relative Strength Index is also above 50%, suggesting bullish momentum and a probable price surge. 📊

On the 4-hour chart, BTC has already broken above the triangle pattern and is retesting the broken trendline. A successful rebound could push BTC toward $75K or even higher. But beware, a drop back inside the triangle could signal a false breakout, possibly leading to a decline toward the lower boundary or the $60K support zone.

On-chain analysis reveals that as Bitcoin's price has recovered above $70K, market participants are hopeful for a new all-time high. The Net Unrealized Profit Loss (NUPL) metric, which indicates the total amount of profit/loss in all the coins, shows values above 0.5, similar to the 2022 all-time high.

While this suggests the market could still climb, it also warns of potential mass selling pressure that could trigger a significant price crash. So, while we're optimistic about Bitcoin, it's always wise to stay alert! 🧐💰