- Bitcoin’s bull pennant pattern suggests a potential rally toward $158,000 by May 2025.
- The RSI has climbed above its average, indicating increased buying momentum.
- Analysts expect a 132.35% price increase if Bitcoin breaks out successfully from the pattern.
Bitcoin’s charts are signaling a potential surge to $158,000. A bull pennant pattern has formed on the monthly chart, with the RSI moving above the average. These indicators suggest a growing bullish trend.
Analyst Titan of Crypto believes the technical setup points to a major rally. If Bitcoin breaks out from the current pattern, prices could hit new highs by May 2025. A decisive breach would confirm this upward momentum.
Bull Pennant Indicates Strong Continuation
Since September 2023, Bitcoin has been showing signs of a bull pennant pattern. This setup often signals consolidation before a major price surge. Historically, such patterns form after strong rallies, suggesting a continuation of the trend.
Bitcoin’s recent movement aligns with this, following a sharp rise that began in late 2023 and peaked in March 2024.This pattern tends to signal bullish continuation, often seen as a base for accumulation before another big move.
Titan of Crypto pointed out that breaking above the pennant could ignite a new rally. Such a breakout would likely extend the existing trend, driving prices up by around 132.35% from current levels.
RSI Recovery Supports the Bullish Case
The Relative Strength Index has also shown renewed strength, moving above the average. This movement suggests growing buying momentum. The RSI often indicates a shift from cautious buying to more aggressive accumulation, hinting at potential gains.
If Bitcoin follows the path suggested by these patterns, prices could reach $158,000 by May 2025. This scenario would mark a new milestone, driven by a mix of technical patterns and market enthusiasm.
Traders and investors are watching closely, anticipating the next big move. The coming months will show whether Bitcoin breaks through, paving the way to new all-time highs.
The post Bitcoin Eyes $158K as Bull Pennant and RSI Momentum Build appeared first on Crypto News Land.
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