#Write2Earn #TrendingTopic Bitcoin has sustained an impressive upward momentum in the past few days, aiming to reach new all-time highs as the halving event approaches.

Bitcoin is currently trading around the $52,000 mark, a crucial price level that could confirm the continuation of the upward trend. The cryptocurrency has formed a rounded bottom pattern on the weekly chart, with buyers potentially targeting the neckline at $69,220, aligning with the all-time high reached in November 2021.

A weekly candle closing above this level would confirm a breakout from the rounded bottom pattern, propelling BTC to new highs. Bitcoin's Relative Strength Index (RSI) has entered the overbought zone, approaching the 80-point mark, reinforcing the dominance of the bullish camp in the market.

The Exponential Moving Average (EMA) power-law crossover on the weekly chart is also noteworthy. This occurred in early January when the EMA 100 crossed above the EMA 200, signaling a bullish trajectory. Investors believe that the imminent halving event, just less than 70 days away, is a key factor influencing Bitcoin's trajectory.

Bitcoin tends to follow a specific cycle, with analysts pointing out similarities between historical patterns and the current price trajectory. This suggests a potential bullish cycle similar to what has been witnessed in the past may unfold.