Bitcoin in Bullish Zone: Keys to the Momentum

Bitcoin has entered a favorable area for an upward movement due to several technical and fundamental factors.

Technical Factors:

• Chart Patterns: Bitcoin recently formed a "cup with handle" pattern on its weekly chart, suggesting a continuation of the uptrend. This pattern is characterized by a consolidation phase followed by an upward breakout, with a price target that could reach $126,000.

• Support and Resistance Levels: Analysts have identified key levels in the Bitcoin price. For example, it has been noted that if the price breaks through the resistance of $106,000 with significant volume, it could resume its long-term uptrend.

Fundamental Factors:

• Regulatory Expectations: The prospect of a more favorable regulatory environment under President Donald Trump's administration has generated optimism among investors. The possibility of establishing a federal Bitcoin strategic reserve could boost institutional adoption and the cryptocurrency's price.

In short, the combination of favorable technical patterns and positive regulatory expectations has placed Bitcoin in a prime position for a bullish move.