Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC?

Q: How long will it take to read this news story?

The story "Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC?" has 497 words across 77 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC?" was covered 13 hours ago by NewsBTC, a news publisher based in United Kingdom.

Q: How trustworthy is 'NewsBTC' news outlet?

NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United Kingdom and publishes an average of 1 news stories per day. It's most recent story was published 1 days ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28903092</li><li>URL: https://person1204.beamstart.com/news/bitcoin-ready-for-second-price-17479044776878</li></ul>

NewsBTC Logo NewsBTC 13h ago

Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC? - NewsBTC

Quick Summary:

Since reclaiming this crucial level on Monday, Analyst Ali Martinez pointed out that the flagship crypto appeared to be forming an ascending triangle pattern in the lower timeframes, which suggested a rally toward the $115,000 level once the price broke above the $107,000 mark. In the early hours of Wednesday, BTC’s bullish breakout saw it retest the $108,000 barrier, facing rejection toward the $106,000 support before bouncing and smashing this barrier and rallying toward its new ATH.

Amid its late April-May rally, Bitcoin has arrived at the setup’s final phase, with the analyst forecasting $140,000 as the next target after breaking above the $108,500 mark.

Related Reading: Solana Rejected From Key Inflection Point’, But Multi-Year Trend Suggests New Highs Similarly, Sjuul from AltCryptoGems highlighted the same Po3 pattern on BTC’s chart, affirming that investors could expect a "strong expansion” toward the $125,000-$130,000 levels after breaking out of its previous ATH levels.