Bitcoin’s Comedic Bull Run: $120,000, Here We Come! 🚀💰

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Oh, the grand comedy of Bitcoin! Our dear cryptocurrency, after a brief sojourn in the re-accumulation zone, has once again donned its bullish attire. Analysts, with their charts and patterns, now predict a surge to the dizzying heights of $120,000, a new all-time high that would make even the most skeptical of us don our finest hats and dance in the streets! 🎩🎉

According to the illustrious Weslad, a crypto analyst of no small repute, Bitcoin is following a well-defined bullish trajectory, one that could lead it to the princely sum of $122,000. At the time of writing, Bitcoin stands at a respectable $109,747, a mere 11.17% away from its grand destiny. 🌟

This rosy forecast is thanks to an AB=CD pattern, a harmonic structure that has previously hinted at significant upside potential. The Bitcoin price has retraced into a key re-accumulation zone between $104,000 and $107,000, a move Weslad describes as a healthy correction rather than a reversal. 📈

Weslad assures us that the present re-accumulation zone is where the buyers are stepping in once more. As long as Bitcoin remains within or above this zone, the market will remain bullish. A bullish market, indeed, where the bulls charge forward with the grace of a fine French château! 🏰

Currently, Bitcoin is trading well above the crucial psychological support of $100,000, a sign that the bulls are in fine form. The broader market structure remains intact within an Ascending Channel, supported by higher timeframe demand zones. 📊

Weslad’s analysis suggests that if Bitcoin can hold its price within the $104,000 – $107,000 range, it could see a significant increase to the 2.618 Fibonacci Extension level near $122,000. A breakout above the $112,000 resistance is also needed to confirm the next leg of this move, marking a potentially stronger and larger upside momentum. 🚀

However, as the Bitcoin price approaches the local resistance around $111,000, Weslad warns of a temporary hurdle. If price action is rejected at this level, traders should anticipate a potential re-test of the $107,000 – $108,000 region. This area has served as a reliable barrier during the recent consolidation phase and is expected to hold firm in the event of a minor correction. 🛑

Most recently, Weslad affirmed that this anticipated corrective move has already concluded, signaling that the market is now poised for the “real growth phase.” With the base demand zone around $86,000 – $91,000 and strong support around $96,000 – $99,000, Bitcoin’s overall structure remains bullish unless a decisive breakdown below $100,000 occurs. Until then, all eyes remain on the $112,000 breakout level, which could trigger a potential surge toward the projected $122,000 target. 🎯

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2025-05-28 03:05