Technical analysis indicates Bitcoin could rally by up to 50% should it maintain crucial support levels, mirroring patterns observed during its significant late 2024 breakout. Market analysts highlight that BTC/USD currently tests critical support in what they describe as an ‘interesting spot,’ structurally resembling conditions that preceded Bitcoin’s previous surge from $70,000 to $108,000.
Historical patterns show Bitcoin tends to deliver substantial gains after successfully defending major support zones. During its last major retest, the cryptocurrency climbed over 54% to achieve record highs. Current assessments suggest BTC may avoid revisiting recent swing lows, with analysts pointing to established bottoms formed during price dips in April and June this year.
Broader market dynamics are viewed as pivotal catalysts. Reduced volatility and ongoing developments surrounding US trade tariffs could significantly influence Bitcoin’s trajectory. Traders are closely monitoring these macroeconomic factors alongside technical indicators to gauge the probability of renewed bullish momentum.