Bitcoin ready to surge?
Bitcoin price has continuously touched the Trendline from 5 to 6 times and is showing signs of breaking this Trendline when it just closed the daily base at 68k4. Once the D1 candle closes above 70k, we can be more certain that Bitcoin has escaped the downtrend of this trendline.
The next milestone Bitcoin is aiming for is the all-time-high at the price range of 73k8. With good growth momentum in the past weeks and the Higher-High structure formed on the daily frame, it is very likely that we will see Bitcoin make a new peak in the next few weeks.
Bitcoin has been sideways for 32 weeks. This is a period of time almost as long as the 2022 bottom when Bitcoin sideways for 39 weeks. Accumulating for a long time at the old peak of the previous cycle (69k) will create a solid enough price base for Bitcoin to increase more sustainably in the long term!
