The post Technical indicators signal aggressive rally ahead appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) soared to a new all-time high of $94,002 before consolidating above $92,000, signaling strong upward momentum in its ongoing rally. The latest surge comes as geopolitical tensions escalate and investor optimism grows, driving renewed interest in the market.  Analysts highlight a convergence of key technical indicators pointing to Bitcoin’s rally entering its most aggressive phase, potentially paving the way for a climb toward the much-anticipated $200,000 milestone. Technical indicators signal an aggressive rally In a recent TradingView post, TradingShot highlighted that Bitcoin’s price action is closely aligned with historical patterns, particularly the Pi Cycle theory, which has proven remarkably consistent in predicting Bitcoin’s long-term trends.  Bitcoin price analysis chart. Source: TradingShot/TradingView The analysis notes that Bitcoin is currently trading approximately $30,000 below the Top Pi Band, a level that, once breached, typically signals the start of the parabolic phase. The bullish momentum has been amplified by the weekly RSI recently closing above 70. During the last two bull cycles, such a breakout in the RSI marked the beginning of an aggressive rally. Notably, in both instances, Bitcoin’s cycle peak occurred 54 weeks (approximately one year) after the RSI closed above 70. Additionally, the 100-day moving average has shown to be a reliable support level during past parabolic rallies, suggesting it could also serve as a critical marker for traders in this cycle. Projections and cautionary signals With these signals converging, TradingShot projects a potential Bitcoin peak between $150,000 and $200,000 by late 2025, offering traders and investors a unique opportunity to capitalize on the final stages of this bull cycle.  Similarly, crypto trading expert Ali Martinez has forecasted that Bitcoin could rise to $138,000 in this cycle before facing a significant correction. However, not all indicators signal clear skies. According to CryptoQuant, the Fear & Greed Index, which…

---

Filed under: News - @ November 20, 2024 12:24 pm