Is the bull market fully erupting or just a short-term rise?
Full bull market eruption: Many analysts and market observers believe that the current upward trend of Bitcoin may signify a broader bull market cycle. After a significant rise, market sentiment is generally optimistic, and investor confidence is strengthened.
The ascending triangle pattern of Bitcoin usually indicates further price increases. In addition, technical indicators such as MVRV (Market Value to Realized Value) show that market demand for Bitcoin remains strong in the long term.
Potential pullback risks: Despite the significant upward trend, the volatility of the Bitcoin market is well-known. Any pullback in the short term could occur due to changes in market sentiment or technical adjustments. Investors should be cautious of the risks associated with excessive optimism.
Next target price
According to various analyses and predictions, the target prices for Bitcoin vary:
Short-term target: If Bitcoin can break through resistance, the next target may be around $112,000.
Long-term target: More optimistic forecasts suggest that if the current trend continues, Bitcoin could reach or exceed $130,000 within the next year, with even more aggressive predictions suggesting over $200,000, although these forecasts are often accompanied by significant uncertainty.
