Bitcoin (BTC) Bullish Breakout: Will $96,700 Support Lead to Major Surge?
- Reket Capital sees Bitcoins post-breakout retest of the Monthly Bull Flag as a signal for continued upward movement if $96,700 holds.
- Master Ananda expects Bitcoin to undergo a major rise soon, driving growth in the entire cryptocurrency market.
- Bitcoin will lead the digital currency era, reshaping the global economy with its ongoing expansion and adoption.
The current price trend of Bitcoin has sparked positivity in the markets. In the context of post breakout retest of the Monthly Bull Flag, Reket Capital opined that the underlying instrument of the cryptocurrency has performed well. Price has undergone technical processes that will allow it to give a breakout signal. If Bitcoin can sustain itself above $96,700, it can continue a move in the right direction.
Master Ananda also gave a positive outlook on Bitcoin. He expects that BTC is just around the corner of a massive rise. According to Ananda, the cryptocurrency is on the verge of a major hike and is improving daily. He stated that as the BTC continues to surge, the rest of the crypto markets will follow suite and thrive.
Bitcoins Major Rise Ahead
Digital currencies have a trend in the process of becoming more apparent. This race is led by Bitcoin and its expansion is a driving force in the evolution of this field. As Bitcoin moves forward, it brings more progressive changes to the society which are instrumental to enhancing the ways people live and breathe. In fact, the experts have said that the currency of the future will be electronic, with BTC being at the forefront.
The value of technical analysis is incredibly evident while trying to predict the future trend of BTC. Through looking into several charts and market analysis, the direction of Bitcoins trend is starting to become clearer. Such workflow implies analysts updating the market maps as new information is revealed, which also adds to the positive outlook for the cryptocurrency. With each passing day, it becomes possible to argue that BTC has a bright future ahead of it.
Referring to Bitcoins potential, Anadana believes that it may take even longer and the bull market may go up to late 2025. Nevertheless, this bull run might not be like any other previous bull cycles. Thus, rather than sudden and volatile spikes in price, the BTC growth can be slower. It is widely anticipated that this slow and constant rise will be balanced and long-term and large price hikes will take place periodically.
Long-Term BTC Growth
Despite the fact that every decentralized coin requires corrections on the way up, these corrections are expected to be short-lived in the case of Bitcoin. There is a possibility of a very slight decline around May 2025, but that it will not last long. After the correction is over, it will continue to rise and increase in pace during the year. Thus, by the second half of 2025, it can be expected that the BTC trend will continue to rise.
The current pattern is not the double-top pattern observed in 2021 but a blow-off top, which is akin to the 2017 spike. This may well be the last stage of the current bull phase of the market. Also, altcoins will follow the same trend though they are expected to expand much more especially in the second half of 2025.
Read more: https://www.tronweekly.com/bitcoin-btc-bullish-breakout-will-96700-support/
Text source: TronWeekly
