Rare Bitcoin Bull Signal Nears Activation—Analyst Claims Perfect Track Record

Bitcoin's flashing a signal that's historically meant one thing: serious upside ahead.

The Setup

A rarely triggered technical indicator is on the verge of firing. When it last appeared, double-digit rallies followed. Analysts are watching the charts like hawks.

Why It Matters

This pattern's track record is spotless—according to one analyst, it's never once misfired. Traders are positioning for a potential breakout, though skeptics warn past performance doesn't guarantee future results. Typical finance—everyone's a genius in a bull market.

What's Next

If activated, the signal could ignite the next leg up. Keep an eye on key resistance levels. Miss this, and you might miss the move.

bitcoindata21's bitcoin chart What to Expect from Bitcoin Commenting on bitcoindata21’s post, one X user remarked that the comeback could see Bitcoin hit $145,000. Notably, other market watchers are also using technical indicators to call for a rebound. At the same time, some believe there is still a risk of a significant dip. For instance, analyst CasiTrades has warned of a likely drop to $88K if Bitcoin bulls fail to maintain a price above the $122,000 level. CasiTrades, a technical analyst with over a decade of experience, believes Bitcoin completed Wave 1 of a corrective pattern at $112,500 and is now in a Wave 2 rebound. This bounce could push BTC toward the $119,900–$121,900 range, but failure to break higher may trigger a steep Wave 3 decline. However, if Bitcoin surpasses its $124,500 high, the bearish outlook would be invalidated. Meanwhile, Michael XBT, another veteran market watcher, believes calling for a major dump at this stage is premature. https://twitter.com/MichaelXBT/status/1958202430018953266 "Road to $1M BTC Remains Intact" Regardless of Bitcoin’s short-term patterns, there is almost a consensus regarding its long-term uptrend. Many expect Bitcoin to potentially experience a 10X price surge in the coming years. For instance, Coinbase CEO Brian Armstrong has joined other industry leaders in predicting that Bitcoin could reach $1 million within the next five years.