Bitcoin has recently delivered outsiders once again, breaking upwards in resistance at previously low levels, driven by both medium- and long-term uptrends visible in technical analysis. According to renowned technical analyst Katie Stockton, Bitcoin’s chatroom candlesticks have reaffirmed a couple of cycles, with the resistance barriers broken, particularly around the $134k mark. This movement is seen as a positive development from a technical standpoint because the resistance levels have been crossed, supporting a moderate increase for the cryptocurrency to around $134.50.
Weekly MACD data and stochastic indicators also confirm a continued positive momentum in the intermediate term. Bitcoin’s related stock indices continue to converge, indicating a near-term uptrend. Recent data shows that Bitcoin’s resistance level has recently hit around $108,300, which previously supported such resistance. This surge in the cryptocurrency market, although not limited to Bitcoin alone, affected other cryptocurrencies with exposures as well.
A similar occurrence of a ‘golden cross’ that significantly lifted the Bitcoin最多的走势 occurred around November 2024, leading to an even more bearish downward trend. This trend was superseded later by a strong rally, which followed an extended period of consolidation. Crypto believers have historically seen Bitcoin’s momentum linked to related futures and ETFs, such as MicroStrategy (MSTR) and Coinbase (COIN), which have shown significant gains alongside Bitcoin. The dependency between stock indices reflecting Bitcoin’s dominance is compelling evidence that both align tightly.
Of course, this analysis presumes the information in the initial context, and the views expressed are those of a formidable asset tracker product. Insight aside, the rise in Bitcoin’s price has thus far seen 25% year-over-year growth during its initial 30 days, despite persistently rising tech and crypto. This upward movement is further cemented by anecdotal evidence, including data from past-money markets where Bitcoin’s correlation with tech stock TSMC has been extremely strong, at over 60%. This positive polarity further widens the potentialbottombar for hits to Bitcoin’s broader market.
