With the Bitcoin price surging back towards the $45K mark, overall market sentiment is lifting off with expectations of a “Pre-Halving Run” skyrocketing. As the uptrend continues to gain momentum, the BTC price recovery is hinting at an altcoin season on the horizon.
Furthermore, the bullish pattern on the weekly chart, the trend reversal signal on the monthly chart, and the supply reduction from miners are suggesting a significant leap. With such developments, the BTC price prediction of reaching the $100K mark is becoming closer to reality.
Bitcoin Teases an Inverted Head & Shoulders Breakout
With the bullish reversal this week, the BTC price is aiming for a breakout above the crucial resistance level of the 61.80% Fibonacci level. This resistance has acted as multiple reversal points for Bitcoin over the past two years.