Bitcoin has bounced back to the $100K mark after a period of consolidation, signaling renewed market optimism. Investors and analysts are debating whether Bitcoin will maintain its momentum. A critical symmetrical triangle pattern is forming, potentially leading to a breakout or breakdown.
Top analyst Carl Runefelt highlights that Bitcoin's price is coiling within this pattern, indicating a significant move is imminent. A move above $103K would reinforce the bullish outlook, while falling below $100K could spark a pullback.
Bitcoin's recent move past $100K tests fresh liquidity, rejuvenating bullish sentiment but demanding caution. The next test is resistance at $103,600, which could trigger a further rally if breached.
