Bitcoin’s recent price action is forming an ascending triangle, a bullish pattern often signaling a major rally. Key resistance levels are $61,846 and $64,169.
Investors have accumulated 33,950 BTC worth over $2 billion in the past ten days, reflecting strong optimism. This accumulation is a bullish indicator, suggesting confidence in Bitcoin’s recovery.
The surge in buying activity may push Bitcoin past $64,000, driven by growing demand and positive sentiment. Long-term holders’ dormancy also suggests expectations of higher profits.
If Bitcoin breaks $64,169, it could rise another 35%, reaching up to $81,556. However, failure to overcome $61,846 may lead to further consolidation below this level.
