1. Overall Trend
The chart shows a long-term bullish trend for Bitcoin, with the price rising significantly from around $50,000 in early 2023 to approximately $123,130 as of the latest data point (March 18, 2025).
The upward movement is characterized by a series of higher highs and higher lows, indicating strong bullish momentum.
2. Price Levels and Targets
The chart highlights a projected target of $160,000, labeled as "Reaching at 160K." This suggests the analyst anticipates a potential breakout or continuation of the current uptrend to this level.
Current price: Approximately $123,130, with previous support/resistance zones marked at $77,917 and $56,707. These levels likely represent significant historical support where accumulation occurred.
3. Technical Patterns
Ascending Triangle: The chart features an ascending triangle pattern, a bullish continuation pattern. The upper resistance line slopes downward slightly, while the lower support line slopes upward, converging toward a breakout point. The recent price action appears to have broken above this triangle, supporting the bullish outlook.
Accumulation Phases: Two distinct accumulation zones are marked:
The first accumulation phase is around the $56,707 - $77,917 range, where the price consolidated before the initial breakout.
The second accumulation phase is near the $100,000 - $120,000 range, followed by a sharp upward move toward the current price and the projected $160,000 target.
4. Support and Resistance
Support: The lower boundary of the ascending triangle and the accumulation zones (e.g., $77,917 and $56,707) act as potential support levels if the price pulls back.
Resistance: The next major resistance is implied at $160,000, where the price may face selling pressure or consolidation before potentially moving higher.
5. Volume and Momentum
While volume data isn’t explicitly shown, the sharp upward move after the breakout from the triangle suggests increasing buying pressure and momentum, typical of a strong bullish trend.
6. Timeframe and Projection
The chart spans from early 2023 to mid-2025, with the $160,000 target likely projected to be reached by mid-2025, aligning with the current trajectory and historical bullish cycles.
The chart shows a long-term bullish trend for Bitcoin, with the price rising significantly from around $50,000 in early 2023 to approximately $123,130 as of the latest data point (March 18, 2025).
The upward movement is characterized by a series of higher highs and higher lows, indicating strong bullish momentum.
2. Price Levels and Targets
The chart highlights a projected target of $160,000, labeled as "Reaching at 160K." This suggests the analyst anticipates a potential breakout or continuation of the current uptrend to this level.
Current price: Approximately $123,130, with previous support/resistance zones marked at $77,917 and $56,707. These levels likely represent significant historical support where accumulation occurred.
3. Technical Patterns
Ascending Triangle: The chart features an ascending triangle pattern, a bullish continuation pattern. The upper resistance line slopes downward slightly, while the lower support line slopes upward, converging toward a breakout point. The recent price action appears to have broken above this triangle, supporting the bullish outlook.
Accumulation Phases: Two distinct accumulation zones are marked:
The first accumulation phase is around the $56,707 - $77,917 range, where the price consolidated before the initial breakout.
The second accumulation phase is near the $100,000 - $120,000 range, followed by a sharp upward move toward the current price and the projected $160,000 target.
4. Support and Resistance
Support: The lower boundary of the ascending triangle and the accumulation zones (e.g., $77,917 and $56,707) act as potential support levels if the price pulls back.
Resistance: The next major resistance is implied at $160,000, where the price may face selling pressure or consolidation before potentially moving higher.
5. Volume and Momentum
While volume data isn’t explicitly shown, the sharp upward move after the breakout from the triangle suggests increasing buying pressure and momentum, typical of a strong bullish trend.
6. Timeframe and Projection
The chart spans from early 2023 to mid-2025, with the $160,000 target likely projected to be reached by mid-2025, aligning with the current trajectory and historical bullish cycles.
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Note
Running at 86K 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.