Bitcoin long bullish
The trend suggests higher highs and higher lows, signaling a longer-term bullish trend for Bitcoin. This projection predicts a potential rise towards $90,000 and possibly beyond.
Short-Term Consolidation: The inner smaller channel (marked within the larger one) shows a consolidation or corrective phase. This could be a bullish flag within the broader trend, hinting at a potential breakout to the upside if the price breaks the upper boundary of this smaller consolidation range.
Key Levels:
Support: The lower boundary of the larger channel provides support. If the price dips but remains above this lower line, the bullish trend should remain intact.
Resistance: The upper boundary of the larger channel represents a possible price target near $80,000-$100,000 in the long term.
Projection: The chart's projection (marked by zigzag lines) suggests that even if the price experiences short-term fluctuations, the overall movement is expected to follow an upward trajectory, potentially reaching the upper levels of the channel by mid-2025.
Short-Term Consolidation: The inner smaller channel (marked within the larger one) shows a consolidation or corrective phase. This could be a bullish flag within the broader trend, hinting at a potential breakout to the upside if the price breaks the upper boundary of this smaller consolidation range.
Key Levels:
Support: The lower boundary of the larger channel provides support. If the price dips but remains above this lower line, the bullish trend should remain intact.
Resistance: The upper boundary of the larger channel represents a possible price target near $80,000-$100,000 in the long term.
Projection: The chart's projection (marked by zigzag lines) suggests that even if the price experiences short-term fluctuations, the overall movement is expected to follow an upward trajectory, potentially reaching the upper levels of the channel by mid-2025.
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