Bitcoin's Bullish Surge: Potential Targets and Path Ahead
Bitcoin has surged beyond a symmetrical triangle, hinting at a potential target around 48500. This aligns well with the March 2022 high of 48475, marking an initial upward goal. Moreover, there's room for further growth if we consider the prior rally as a flagpole and the recent consolidation as a midpoint, indicating potential for Bitcoin to advance even more.
Should Bitcoin surpass the 48500 mark, it could pave the way for a push towards 57555, which stands at the 78.6% retracement level of the entire downward movement from the November 2021 peak to the November 2022 low.
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Should Bitcoin surpass the 48500 mark, it could pave the way for a push towards 57555, which stands at the 78.6% retracement level of the entire downward movement from the November 2021 peak to the November 2022 low.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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