Bitcoin Near $118K After $180K Peak, Analysts See Potential for $200K If Support Holds

Key Points

1. Bitcoin has shown a classic staircase pattern with higher highs and higher lows since its 2021 peak, indicating sustained bullish momentum.

2. Analysts from COINOTAG suggest the recent pullback from $180K to $118K could set the foundation for a final upward surge toward $200K.

3. Breaking above $100K was a significant psychological milestone, boosting investor confidence and market participation.

4. Risk management strategies, including monitoring support levels and diversification, are recommended for investors due to Bitcoin's cyclical nature.

5. On-chain data and technical indicators, such as the Stochastic RSI, support the potential for Bitcoin's progression toward a final bull phase.