Bitcoin Reaches New All-Time High of $109,800 After Breakout
Bitcoin (BTC) reached a new all-time high (ATH) of $109,800 after breaking through the $107,000 resistance. This follows a 47% recovery from a five-month low of $74,000.
Key Developments
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<li BTC’s breakout occurred after consolidating near the $106,000 resistance for nearly two weeks.
<li Analysts suggest an ascending triangle pattern indicates potential growth towards $115,000.
<li BTC retested the $108,000 level before solidifying its position above this barrier.
<li Analysts predict a possible increase to $140,000 based on a Power of Three (PO3) chart setup.
<li The current trading price is approximately $107,502, 1.8% below the ATH.
Analysts highlight a strong bullish structure in BTC's price action, indicating that the cycle's peak may not be reached yet.
