Bull market fully exploded or short-term rise?
Bull market fully exploded: Many analysts and market observers believe that Bitcoin's current upward trend may signal a broader bull market cycle. After experiencing significant price increases, market sentiment is generally optimistic, and investor confidence has strengthened.
The ascending triangle pattern of Bitcoin usually indicates further price increases. Additionally, technical indicators such as MVRV (Market Value to Realized Value) show that the market's long-term demand for Bitcoin remains strong.
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 wary of the risks brought by excessive optimism.
Next target price
According to various analyses and forecasts, Bitcoin's target price varies:
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 prices above $200,000, although these forecasts often come with significant uncertainty.
