🎉Hey, Bitcoin enthusiasts! 🎉 Here's some exciting news: BTC might be gearing up for a big move! 🚀

After a month of consolidation, BTC's price has been hovering around the $70K mark, forming a large triangle pattern on the daily chart. 📈 Currently, the market has reclaimed the $68K level and is moving toward the higher boundary of the pattern. If a bullish breakout occurs, we could see a rally toward higher prices and a new all-time high in the short term! 🎯

On the 4-hour chart, the price has rebounded from the $64K level and pushed above $68K. The market's reaction to the higher boundary of the triangle pattern will determine whether we can expect a new all-time high in the coming weeks or if more consolidation is on the horizon. 🤔

The Relative Strength Index also shows values above 50%, indicating that the momentum favors a bullish continuation. 🐂

However, let's not forget the on-chain analysis. The short-term holder Spent Output Profit Ratio (SOPR), which measures the ratio of profits realized by holders who have held their coins for less than 155 days, spiked significantly but rapidly dropped during the consolidation. This massive decline hints that the profit realization phase is mostly over, and the market might be ready to begin a new bullish wave. 🌊

So, will Bitcoin chart a new all-time high before the upcoming halving? Stay tuned, folks! 🚀🌕