Bitcoin has extended his consolidation below $ 100,000 since early February. This price discrepancy was aggravated by a slowdown in the bullish feeling among investors and a slowdown in the euphoria concerning the Crypto-positive influences of the new Trump administration in the United States.
Despite this slowdown in the rally, the technical analysis continues to support a Long -term upward perspectives For Bitcoin. Current stagnation seems to be a reactive phase for bullish investors; A pattern observed several times before the major increase moves this cycle. In addition, the analysis shows that the domination of the USDT will play a crucial role in the outbreak of the next Bitcoin rally around $ 150,000.
The Bitcoin reactive phase and the role of the domination of the USDT
According to A technical analyst (Tradingshot) on the TradingView platform, Bitcoin currently presents an interesting accumulation trend alongside the domination of the USDT. The domination of the USDT reflects the percentage of total market capitalization of cryptography in the USDT, indicating whether traders promote stablescoins compared to more risky cryptographic assets. A high domination of the USDT generally signals low purchase pressure in cryptocurrencies. Conversely, a decrease in the domination of the USDT often suggests that traders turn funds in bitcoin and other cryptocurrencies.
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Interestingly, the domination of the USDT had a crucial simultaneous event with Bitcoin preparations for the gatherings of this cycle. Two notable reactive periods occurred after Bitcoin thoroughly in November 2022, each leading to significant price rallies. The first period of accumulation extended from January 2023 to March 2023, while the second occurred between November 2023 and February 2024. These two reactive phases took place at the extension of 0.5 fibonacci from an anterior accumulation phase. In addition, these phases share common characteristics, including a 1 day RSI structure in the USDT dominance table and a decline in the dollar index (DXY).
Now Bitcoin seems to be reflecting the same conditions Again, with the domination of the USDT and the DXY pulling back with the current reacting phase, which has been taking place since December 2024. If the model continues take place as plannedThis could indicate that Bitcoin is on the verge of his next major rally.
USDT to send BTC to $ 150,000
If Bitcoin follows the model observed in previous rallies this cycle with USDT domination in the nucleus, the reactive phase could end in the next One or two weeks and finally cause another gathering to new heights of all time.
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In terms of target, the analyst noted a potential objective of $ 150,000 for the price of Bitcoin, at least before another major correction and a subsequent accumulation phase. However, Bitcoin must Overcome keys resistance levelsIn particular the psychological bar of $ 100,000, which has been a major obstacle in recent weeks.
At the time of writing this document, Bitcoin is negotiated at $ 97,175, up 1.6% in the last 24 hours. A decision at $ 150,000 will represent an increase of 54% compared to the current price.
PEXELS star image, tradingView.com graphic
