The post Bitcoin Price Today: Bitcoin Flashes Bullish Pattern—Is a 50% Rally Just Around the Corner? appeared on BitcoinEthereumNews.com.

Bitcoin surged today amid renewed optimism, mirroring a 2024 setup that led to a 50% price gain. With BTC ETF news stirring fresh momentum and technical patterns aligning, bullish sentiment is gaining traction. Bitcoin price today climbed above $116,800 as traders closely watch for a decisive breakout above key resistance. Analysts point to growing institutional confidence, robust technical signals, and historical chart similarities that suggest the leading cryptocurrency could be on the verge of another powerful rally. Market Overview: Bitcoin Technical Analysis Suggests Bullish Breakout Brewing In recent trading sessions, Bitcoin (BTC) has demonstrated strong upward momentum across multiple timeframes. As of August 7, 2025, BTC reached an intraday high of $116,848, buoyed by a 24-hour trading volume of $35.09 billion and a total market cap of $2.32 trillion. Bitcoin price holds $112K support and plots a higher low, suggesting a further upside move above $120K ahead. Source: EdwinaCook on TradingView On the daily chart, BTC is forming higher lows near the $112,000 support level—an indication of growing bullish pressure. Volume has steadily increased on green candles, a classic sign of buyer control. According to technical analysis from Bitcoin.com, Bitcoin needs to convincingly close above the $117,000 resistance level to confirm a sustained uptrend. Shorter-term charts are even more promising. At the 4-hour time frame, BTC is already in a short-term bull trend with strong price action between $112,000 and $116,800. A breakout above this level can drive the asset towards $118,500 and possibly $120,000. The 1-hour time frame shows a bullish engulfing candle underpinned by a volume spike—a confirmation that the buyers are in control of the short-term market. However, traders are reminded not to wait for false breakouts, especially in key resistance zones. Trend Factor: 2024 Echoes Rally and Bitcoin Halving 2025 Hype It’s a great tale in…

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Filed under: News - @ August 8, 2025 5:28 am