Bitcoin has recently experienced an impressive surge. In just a few weeks, the price has climbed from $74,500 to $95,500, an impressive increase of about +25%. It is now worthwhile to dive deeper into the price action and explore what the coming days might hold for
Bitcoin. While there are no guarantees, a solid analysis can provide valuable insights into what could potentially happen.
Monthly Analysis: Positive Market and Strong Recovery
As seen on the monthly chart, Bitcoin is currently in a positive market phase. The price firmly tested the lower blue zone, which is located between $50,000 and $60,000. After this test, the price began to rise sharply and even reached a new all-time high (ATH) of approximately $110,000.
Following this impressive rally, there was a significant correction that made many traders nervous. The price dropped back to around $74,000, but surprisingly, Bitcoin has since recovered to the current level of around $94,000. These fluctuations demonstrate the dynamic nature of the market, but the long-term trend remains positive.
Where Could the Price Go?
There is also a chance that the price will move back towards the ATH of $110,000, potentially leading to a breakout to levels we have not seen before. While it is difficult to predict exactly where the price will go, many analysts believe Bitcoin could even climb towards $150,000+.
Weekly Analysis: Stabilization and Growth Opportunities
On the weekly chart, we see a similar pattern as on the monthly chart but zoomed in to a shorter timeframe. It is clearly visible that Bitcoin formed a lower high at $88,000 after previously reaching a low of $74,000.
This lower low has now been broken by a higher high, which may indicate a shift in market sentiment towards bullishness. This could signal a potential continuation of the upward trend in the near future.
Daily Analysis: Volatility and Short-Term Movements
On the daily chart, we see a more detailed overview. Here, a clear liquidity sweep is shown, where institutional investors attempt to push other market participants out of their positions by reaching a specific price level, in this case, the previous low.
This can lead to stop losses being triggered or short positions being activated. Subsequently, the price reverses explosively, causing open short positions to be liquidated and pushing the price even higher.
You can clearly see that the price has moved above the previous high, along with a Fair Value Gap (FVG). This suggests that this is likely a genuine market move rather than manipulation. The FVG is marked with the blue box, and you can see the price dipping into it before shooting upwards again.
Conclusion: Bitcoin Price Recovery in Motion
Bitcoin shows strong signals of recovery and growth across the monthly, weekly, and daily charts. The current price action suggests that a new attack on the all-time high of $110,000 is possible, with a potential breakout towards $150,000 or even higher. Nevertheless, the crypto market remains notoriously volatile. Therefore, it is important to carefully monitor both opportunities and risks. For now, the trend appears positive, but patience and risk management remain crucial for success.
Disclaimer: This is not financial advice. Always do your own research and consider seeking professional advice.