BTC/USD Bullish Potential for 2025 – All Eyes on the BananaZone
Overview: Bitcoin has taken a leap, showing an impressive 16% weekly gain and testing the critical $80,000 psychological barrier. This surge is not just a short-term rally but may signal the start of a substantial move higher, possibly driving prices toward the $120,000 target in 2025. Here’s what I see in the chart:(Weekly)
Technical Breakdown:
Ichimoku Cloud: Price is well above the cloud, confirming bullish momentum. The future cloud (Senkou Span A and B) projects continued strength, reinforcing the uptrend.
TheLark LMA (0.77): The upward sloping line shows strong medium-term support at $62,278, matching with prior consolidation zones.
Key Resistance and Support:
Immediate resistance is the $80,000 mark.
The previous breakout zone around $67,357 should act as strong support.
Cipher B displays a healthy wave uptrend, signaling room for further bullish continuation.
RSI Analysis: CM_Ult_RSI_MTF stays comfortably above 50, indicating bullish strength. The last red zone marked in 2024 highlights previous corrections, but with the current RSI showing upward momentum, a bullish scenario is more plausible.
Projection: The chart hints at a significant move, possibly an 80%+ price surge, targeting $120,000 in the medium to long term. The Banana Zone 🍌 (marked on the chart) highlights the breakout potential. Breaking and holding above $80,000 confirms the bull run is intact, with room to hit new all-time highs.
Conclusion: While BTC remains volatile, the signals point to a promising path forward. A decisive weekly close above $80,000 could trigger major bullish momentum into 2025. Let’s monitor the RSI and Ichimoku cloud for any changes in strength.
Follow me Zenenrgy8 for more chart analysis. NFA.
https://www.tradingview.com/x/wqiEz6Qd/
Technical Breakdown:
Ichimoku Cloud: Price is well above the cloud, confirming bullish momentum. The future cloud (Senkou Span A and B) projects continued strength, reinforcing the uptrend.
TheLark LMA (0.77): The upward sloping line shows strong medium-term support at $62,278, matching with prior consolidation zones.
Key Resistance and Support:
Immediate resistance is the $80,000 mark.
The previous breakout zone around $67,357 should act as strong support.
Cipher B displays a healthy wave uptrend, signaling room for further bullish continuation.
RSI Analysis: CM_Ult_RSI_MTF stays comfortably above 50, indicating bullish strength. The last red zone marked in 2024 highlights previous corrections, but with the current RSI showing upward momentum, a bullish scenario is more plausible.
Projection: The chart hints at a significant move, possibly an 80%+ price surge, targeting $120,000 in the medium to long term. The Banana Zone 🍌 (marked on the chart) highlights the breakout potential. Breaking and holding above $80,000 confirms the bull run is intact, with room to hit new all-time highs.
Conclusion: While BTC remains volatile, the signals point to a promising path forward. A decisive weekly close above $80,000 could trigger major bullish momentum into 2025. Let’s monitor the RSI and Ichimoku cloud for any changes in strength.
Follow me Zenenrgy8 for more chart analysis. NFA.
https://www.tradingview.com/x/wqiEz6Qd/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.