Well, well, well, what do we have here? Bitcoin (BTC), the cheeky little rascal of the crypto world, has decided to throw a party and hit a brand spanking new all-time high of $124,000 early on Thursday! 🎉 But don’t get too comfy with your champagne glasses just yet, because after the fireworks, BTC took a tiny step back to just above $121,000. Oh, the drama! 😂
Excitement continues to grow
either the market continues its wild ascent until buyer exhaustion hits and sends prices plummeting back to earth, or Bitcoin decides to take a breather and meander sideways until the momentum indicators cool off. Either way, it’s going to be a thrilling ride! 🎢
This is still a bull market
Let’s not forget, dear readers, this is a bull market, and it’s entering its grand finale. The trend is up, and it’s likely to stay that way. Sure, there will be a few hiccups along the way, but in the end, this market is poised to reach even greater heights. Buckle up, buttercup! 🚀
$BTC in healthy trend higher
On the short-term charts, $BTC has been climbing higher in a delightfully steady manner, avoiding any mad surges. After hitting the all-time high, the price has dipped back to test the tops of the previous candles. The Fibonacci levels show that the price is now beyond the 0.786 level, with the 1.618 extension level looming at around $130,000. The ascending trendline is still holding strong, so unless something drastic happens, this upward trend is likely to keep chugging along. 🚄
$BTC continuation of this upside move?
The daily chart reveals a trend break in the RSI, with the indicator line breaking through the descending trendline, mirroring the bull flag breakout in the price action. This recent upward trend is at a crucial juncture-either it will continue its ascent, or it will falter. A bounce from the ascending trendline would be a strong signal that the upside move is set to continue. 📈
$BTC price follows bull market parabolic curve
Zooming out to the weekly chart, the full scope of this bull run becomes clear. The Fibonacci extension levels show that the 1.618 level was reached at just over $100,000, with the 2.618 level at nearly $155,000-a tantalizing target indeed! The price action is still hugging the parabolic curve, suggesting that the steep rise is likely to continue. And if that wasn’t enough, the Hash Ribbons indicator has flashed three consecutive blue buy signals, a first on the weekly chart. Only time will tell what wonders this could bring! 🌟
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2025-08-14 13:31