BTC Rallies: Will Bulls Break Bearish Resistance and Set New ATH?

BTC Rebounds: Will It Outpace Bears and Form a New ATH?

After a period of consolidation, Bitcoin has reclaimed a key resistance level. Bulls remain strong, with prices consistently trending upwards. This raises the question: Will BTC close the quarter above key levels and set the stage for a new all-time high (ATH)?

Bear Attacks Thwarted, Bulls Hold Ground

Despite significant pullbacks, bears have been unable to push prices below a crucial support zone. This suggests that bulls still hold sway, pausing briefly before the next surge. The upcoming quarterly close could significantly impact future price action, potentially establishing a strong foundation ahead of Bitcoin's halving event.

Retesting ATH: Parabolic Curve to Price Discovery

BTC is currently retracing around its previous ATH, poised for a breakout. Technically, staying above $69,000 is crucial for Bitcoin to exit the accumulation phase and initiate a fresh rally.

RSI and StochRSI: Bearish Divergence or Insignificant Resistance?

In the short term, BTC is displaying a parabolic curve, targeting the current ATH. While RSI and StochRSI indicate a potential bearish divergence, it may not hinder price reaching new highs.

Will a New ATH Await Before Month's End?

RSI has yet to reach its upper threshold, suggesting that BTC may continue to rise moderately above current levels. By month's end, many expect a new ATH around $75,000, potentially triggering some bearish activity.

Halving Month: Bulls in Control, Bears Held at Bay

Entering the Halving month, buyers remain dominant, potentially preventing bears from pushing prices below the new support zone around $73,500-$74,000. This could spark a fresh bullish move towards new highs, possibly $100K.