As the world teetered on the brink of economic chaos, Bitcoin stood tall, a beacon of hope in a sea of uncertainty π. The news of President Trump’s 50% trade tariff on the EU sent shockwaves through the markets, but our beloved cryptocurrency refused to be swayed πͺ. And now, with the tariffs deadline extended until June 9, Bitcoin is making a triumphant return, like a phoenix rising from the ashes π₯.
Bitcoin: The Resilient Rebel
One might argue that Bitcoin was due for a rebound anyway. After all, the price had taken a beating, shedding a whopping 4% on Friday and wiping out a cool $4,400 from its value πΈ. But Bitcoin, ever the contrarian, refused to be defeated. With its short-term momentum indicators reset, it was only a matter of time before the king of cryptocurrencies began its ascent once more π.
The tariffs news may have sent tremors through the market, but Bitcoin has become a battle-hardened veteran, shrugging off the shocks with ease πββοΈ. The next big quake could come if the EU-US talks fail to produce a deal, but with both sides laser-focused on avoiding disaster, a compromise seems more likely than not π€.
$BTC: The Next All-Time High Awaits
The short-term chart for $BTC tells a tale of resilience and determination π. The price dipped into the ascending channel, but the support at $106,000 held firm, like a rock in a stormy sea π. A strong bounce has brought the price back above the previous all-time high, and this time, it might just stick π€.
A W pattern has formed between the two horizontal support lines at $106,000 and $109,000, and it’s broken out with a vengeance π. If this pattern continues to its full measured move, we could see the price soar to new heights, beyond the all-time high π.
The Stochastic RSI on the 4-hour time frame is reaching for the stars, but the 8-hour, 12-hour, and daily time frames are only just beginning to rise from the bottom, signaling that upside price momentum is still in full swing π.
$BTC Consolidates Above $106,000: The Next Stage of the Bull Market
The 6-day time frame offers a glimpse into Bitcoin’s future, and it’s looking bright π. While many traders and analysts are predicting a large dip in price, the chart suggests that another strong upward surge might be on the horizon π.
The horizontal orange lines on the chart represent the base and topside of a strong market structure π. The lower horizontal line at $74,000 marks the top of the 8-month bull flag, and the bottom of the last bull flag. Now, a price structure step is forming along the top of the recent bull flag, and if it holds, it could become the base for the next stage of this bull market π.
The MACD indicator supports this thesis, with the green histogram bars growing bigger and the MACD and signal lines having a long way to travel to equal the two previous tops in mid-2024 and at the beginning of 2025 π.
The Stochastic RSI needs to maintain its indicators at the top of their trajectory for an extended period, but once they start to cross down, it could signal the end of this particular surge π¨.
Looking ahead, once the reversal comes, it may bring the price back down to retest $106,000, making this level even stronger and paving the way for a final new all-time high on one more potential surge π.
Read More
- Silver Rate Forecast
- ZK PREDICTION. ZK cryptocurrency
- SPEC PREDICTION. SPEC cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- USD CHF PREDICTION
- INR RUB PREDICTION
- Will XRP Break $3 or Just Break Our Hearts? π€‘
- GBP AED PREDICTION
- ETH CAD PREDICTION. ETH cryptocurrency
- Ethereumβs Sudden Surge: A 10% Spike in Active Addresses! Is $1,850 Next?
2025-05-26 12:06