Bitcoin’s price is getting close to its all-time high, and some analysts think a big price increase is coming soon.
Bitcoin: One Candle Away From New Highs?
One analyst, CrypFlow, noticed Bitcoin’s resilience and strong chart patterns. After bouncing back from support, Bitcoin successfully reclaimed a key level around $104,400. However, it hit resistance around $109,000 – its previous weekly high. This resistance is being tested, and a break above it with strong trading volume could lead to a huge price surge, beyond anything seen before.
Another Bullish Signal
Another analyst, Trade4ddict, also sees a bullish opportunity. Bitcoin’s one-hour chart shows a promising pattern. After a dip, it quickly rebounded, trapping some traders who bet against it (short sellers), confirming a bullish reversal. This suggests buyers are taking control, and the price could hit $110,500, potentially even breaking through to new all-time highs near $112,000.
The Inverted Head-and-Shoulders Pattern
Yet another analyst, Abdul Basit Flow 3 Solix, points to an “inverted head-and-shoulders” pattern on the 4-hour chart. This pattern often signals a significant price breakout, especially when combined with higher lows and tighter price action. Bitcoin’s recent retest of a key support level strengthens this bullish outlook. The price is holding above this level, suggesting strong buyer support.
