Has $BTC really started a new phase of the rally? And can we see a Bull Run take Bitcoin to $170K?
The monthly chart is giving a signal worth paying attention to.
In previous cycles, after the Bull Cross appeared on the monthly indicator, Bitcoin entered a strong uptrend that lasted for several months.
Currently, the indicator has started to produce a new Bull Cross after the correction period that $BTC went through, while the price has formed a new bottom zone near 60K–70K.
If the same historical behavior repeats, this could be the beginning of a new uptrend phase. As the Bull Run continues, I’m setting $170K as a long-term target for this scenario.
However, before reaching this range, the road won’t be straightforward. We may see multiple corrections and liquidity tests during the rally.
For me, the most important thing right now is confirmation that the Bull Cross continues on the monthly timeframe and that the uptrend keeps building. #BTC Price Analysis#
The monthly chart is giving a signal worth paying attention to.
In previous cycles, after the Bull Cross appeared on the monthly indicator, Bitcoin entered a strong uptrend that lasted for several months.
Currently, the indicator has started to produce a new Bull Cross after the correction period that $BTC went through, while the price has formed a new bottom zone near 60K–70K.
If the same historical behavior repeats, this could be the beginning of a new uptrend phase. As the Bull Run continues, I’m setting $170K as a long-term target for this scenario.
However, before reaching this range, the road won’t be straightforward. We may see multiple corrections and liquidity tests during the rally.
For me, the most important thing right now is confirmation that the Bull Cross continues on the monthly timeframe and that the uptrend keeps building. #BTC Price Analysis#
