Bitcoin’s journey: From the holy dip to ATH – What’s next?
|In our previous idea, we compared Bitcoin’s holy dip below 90K to a symbolic renewal, rebounding strongly to 98K in line with our analysis. Since then, Bitcoin has climbed further, breaching the critical 108,367 resistance and reaching a new ATH of 109,396. Now, after a week-long consolidation forming what looks like an irregular triangle, the market is on edge. Will Bitcoin make its next move toward 120K, completing the Deep Crab pattern, or is another twist ahead?
Key observations
1. From 90K to ATH – The momentum builds
Bitcoin’s holy dip below 90K sparked a powerful rally that led to a fresh ATH of 109,396, showcasing its resilience and bullish sentiment.
2. Irregular triangle formation
The week-long sideways move near 109,396 suggests consolidation within an irregular triangle, a pattern that often precedes a breakout.
3. Deep crab harmonic target
The next major resistance lies between 120,000 and 125,000, coinciding with the completion of the Deep Crab Harmonic Point D (162% XA extension). This level is the logical zone for a strong rally if Bitcoin breaks above 109,396.
Trading strategy
1. Key levels to watch
Upside:
A break above 107,125, followed by 109,396, could open the path for a fast rally toward the 120K–125K zone.
Downside:
A drop below 104K might delay the rally, pushing Bitcoin back to the 100K support zone.
2. Momentum play
The irregular triangle breakout above 109,396 could lead to a quick, furious rally, targeting 120K, supported by bullish market sentiment.
What’s next for Bitcoin?
Scenario 1 – Breakout above 109,396
Bitcoin could surge toward 120K–125K, completing the Deep Crab harmonic pattern, as momentum accelerates post-breakout.
Scenario 2 – Prolonged sideways move
A continued sideways phase within the triangle could keep Bitcoin range-bound between 104K–109K, delaying the breakout.
Scenario 3 – Drop below 104K
A downside break could signal a temporary pullback to the 100K zone, offering traders another entry opportunity.
Conclusion
Bitcoin’s breathtaking journey from the holy dip at 90K to an ATH at 109,396 has been nothing short of thrilling. With the market poised at a critical juncture, the question remains: will it break out of the irregular triangle and soar toward the Deep Crab target of 120K, or will it pull back, giving traders another chance to join the ride? The mystery of Bitcoin's next big move is about to unfold. Stay sharp, stay prepared, and catch me later in another exciting update from WaveTalks – Market Whispers! Can you hear them?
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