How high can Bitcoin rise now? – TradingView News
The cryptom market again showed clear strength last week. Bitcoin BTCUSD Boiled the $ 100,000 mark for the first time since February and overcame the stubborn resistance area between $ 95,000 and $ 99,000. This technical outbreak caused a noticeable change in mood.
The market participants are increasingly optimistic, and the first signs of Fomo are recognizable. Overall, there is a lot of indication that the Bitcoin market could enter into a phase of sustainable upward dynamics again. But how high could Bitcoin rise now?
Bitcoin breaks out: now all -time high?
The technical outbreak through the resistance zone was convincing. Finally, however, the bullish dynamic decreased slightly. The current candlesticks indicate possible consolidation. A reset to the 78.6 FIB retracement of the last downward movement seems possible.
A retired line of the outbreak line at $ 99,000 to $ 100,000 remains realistic without endangering the overarching chart image. Overall, from a technical point of view, the path towards the all-time high at $ 109,000 is largely free of resistance.
In its current assessment, the analyst Egrag Crypto emphasizes that the Bitcoin course can only enter a really bullish scenario with a confirmed daily closed course of $ 109,000. In his view, there is only a potential false signal – a possible bull trap in which a new correction could follow. As long as this threshold is not exceeded sustainably, the chance risk ratio remains unfavorable in his view.
#BTC — #BLOWOFFTOP, But First: 🚨
This chart reflects my stance on #BTC since early 2023. I’ve been targeting the $170K range as the potential cycle top — but here’s the key: #BTC must close above $109K. Anything less? Just a #BullTrap and a retracement, nothing more. 📉🔻… pic.twitter.com/ZteiySb0lJ
The area below $ 109,000 therefore significantly signal uncertainty. Only above this brand does he see entry into the “Bullisches Zone” for Bitcoin with clearly defined fibonacci goals, which he classifies as significant for the next wave of upward. A Bitcoin course of around $ 170,000 is conceivable here.
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Massive short liquidations, Fomo is getting closer
According to the current data from Coinglass, shortly within 24 hours of short positions worth around $ 837.8 million have been liquidated-the highest value since 2021. Liquidations arise if traders have not adequately secured their positions and the course develops strongly against their bet. In this case, the Bitcoin course increased significantly, which forced empty sellers were forced to stop.
The strong climb triggered a cascade of liquidations, which also intensified the upward movement.
This is the largest short liquidation since 2021.
$837.80M of short positions wiped out in the past 24 hour.
PS:Binance has not fully disclosed its liquidation data, and the actual data is more.https://t.co/C47AgBBF3Mhttps://t.co/7aKXaaUZsv pic.twitter.com/YAvOgAZAEQ
Bitcoin has reached the highest level since January with $ 103,800 after this Santiment analysis. At the same time, over 344,000 new wallets were created-a clear sign of growing market euphoria. However, such fomo-driven phases often lead to short-term overheating. Corrections are therefore not only possible, but typical of bullish market phases and in turn offer new entry opportunities.
🔥 BULLISH: Bitcoin hit $103.8K for the first time since January, with 344,620 new wallets created amid rising FOMO. pic.twitter.com/WE8Rz61osF
But is the market already overheated? Meanwhile, the Fear & Greed Index measures the mood on the market, based on factors such as volatility, trade volume and social media. Values between 0 and 100 show extremes: low numbers stand for fear, high for greed. It helps to better classify overbought or oversized market phases.
The current value of 73 signals a pronounced greed, but is still below the extreme value of previous high phases. The slight decline compared to the previous day (75) shows the first signs of reluctance. Although a correction becomes more likely, the overall picture remains constructive. Historically, there were often significant reset on extremely high values.
Companies & states change crypto cycle
The current bull market differs in central points from previous cycles – especially the unprecedented institutional interest. For the first time, not only large companies are permanently involved in the Bitcoin market, but also state actors. While small investors often hesitate, listed companies such as Semler Scientific and Strategy consistently expand their stocks – despite the increased courses. Together they both hold well over half a million Bitcoin.
At the same time, New Hampshire, a US state, appears as a direct investor for the first time. The law adopted there allows the establishment of state crypto reserves-a novelty at the regulatory level.
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Bitcoin (BTC) is becoming increasingly scarce: threatens the bullish shock?
von Daniel Robrecht
4 days ago
This structural demand signals long -term anchoring of Bitcoin in the financial system. Some analysts therefore already speak of a new cycle that stands out significantly from the typical four -year pattern of the past. The coming months should show how sustainable this change really is.
Despite the institutional participation, there will also be bear markets again – traditional markets also regularly experience reset, although they are shaped by institutional capital. Nevertheless, the new structure could lead to extreme burglaries as in previous Bitcoin cycles. Rails of 70 to 80 percent could be a thing of the past in the long term.
