Brewing tensions between Israel and Iran have triggered global de-risking across risk-on assets, including Bitcoin (BTC). The top cryptocurrency by market cap is down 1.7% over the past 24 hours. That said, technical indicators still point toward a potential new all-time high (ATH) for BTC in the coming months.
Bitcoin Tracing The ABCD Pattern
According to a recent post on X by crypto analyst Titan of Crypto, BTC appears to be following the ABCD pattern. The analyst noted that Bitcoin is currently trading within a wedge formation and could target as high as $137,000 if it breaks out.
For the uninitiated, the ABCD pattern is a classic chart setup with four points and three legs – AB, BC, and CD – where AB and CD are typically equal in length, and BC serves as the retracement. It helps identify potential reversal zones and signals when a price move may be losing momentum.
Several other technical indicators also point to a potential new ATH for BTC. For instance, crypto
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-following-abcd-pattern-analyst-sees-path-to-137000/
