BTC has been chopping sideway for the last few weeks, and its currently consolidating at its previous ATH.
What does this mean for traders and investors?
Well, as we take a look into the previous bull cycles, we saw some incredible gains;
BTC was released in 2009, and it's experienced a bull run in 2013, 2017, and 2021 respectively.
An existing 4 year spread betweem the ATH's suggests that we could potentially see a new ATH for BTC in 2025.
The breakout of 2017's ATH is what started the 2021 bull run last cycle, where we saw a very rapid gain of close to 250%.
A breakout of 2021's ATH means that we could potentailly be facing another large movement in the market.
If this weeks candles closes above our previous 2021 ATH, it could be the determining factor if we will see another bullish price movement on BTC.
I expect we could also run into some turblence in the 80-100k price range, when we will experience some Resistance from the existing Trend Line.
We could potentialy form a local top here and see some real bearish pressure.
If BTC breaks out of that trend line, and crosses over 100k, then it could go absolutely nuclear.
We could potentaily see a northwards rise up to a 200k price range or more, going into 2025.
If history repeats itself, a 245% gain from here would put us around the 240k mark.
What does this mean for traders and investors?
Well, as we take a look into the previous bull cycles, we saw some incredible gains;
BTC was released in 2009, and it's experienced a bull run in 2013, 2017, and 2021 respectively.
An existing 4 year spread betweem the ATH's suggests that we could potentially see a new ATH for BTC in 2025.
The breakout of 2017's ATH is what started the 2021 bull run last cycle, where we saw a very rapid gain of close to 250%.
A breakout of 2021's ATH means that we could potentailly be facing another large movement in the market.
If this weeks candles closes above our previous 2021 ATH, it could be the determining factor if we will see another bullish price movement on BTC.
I expect we could also run into some turblence in the 80-100k price range, when we will experience some Resistance from the existing Trend Line.
We could potentialy form a local top here and see some real bearish pressure.
If BTC breaks out of that trend line, and crosses over 100k, then it could go absolutely nuclear.
We could potentaily see a northwards rise up to a 200k price range or more, going into 2025.
If history repeats itself, a 245% gain from here would put us around the 240k mark.