Ah, dear Bitcoin investors, I see you fret and frown over the stagnant price of your beloved digital currency. Fear not, for patience is a virtue, and it shall be rewarded in due time.
It’s just a matter of time, my dear friends
To those who tremble at the thought of their Bitcoin positions, remember this: every box on the bullish checklist has been ticked. Yes, the price has yet to soar since emerging from its six-week-long bull flag, but rest assured, it’s merely a matter of time.
$BTC breakout on the short-term time frame
Indeed, if we peer at the short-term time frame, we can see that the $BTC price has just broken through the descending trendline formed by the tops of the previous two attempts to escape the bull flag. If this current surge can surpass $110,600, it will conquer the previous local high, made at the mid-point of the bull flag. From there, it would be expected for the price to surpass the all-time high.
Could the all-time high be threatened today? 😲
The daily time frame offers an even more tantalizing perspective. The current candle has its base on the descending trendline and is driving higher. Depending on the price action through the rest of Wednesday, and perhaps some good news on the US trade tariffs front, the all-time high could even be threatened today.
At the bottom of the chart, the Relative Strength Index (RSI) illustrates that the indicator line has crossed back above the moving average (yellow line). Getting above the 60.00 level is the next target, and then a higher high at 64.00 would open the way to moving above 70.00 and into overbought territory.
Bullish weekly chart for $BTC 📈
The weekly chart is nothing but good news for $BTC. The breakout of the small bull flag has taken place, the confirmation of the breakout has happened, and now a decent upside move is expected.
At the bottom of the chart, the RSI indicator has bounced nicely off the yellow moving average. If the indicator line can continue to climb all the way up and get above the last high at 79.00, this would negate bearish divergence, and could allow a huge price increase.
At the very bottom of the chart, the Stochastic RSI is perfectly positioned, with the blue fast line back above the orange slow line, signalling strong upside price momentum.
So, my dear investors, be patient, for it’s just a matter of time … ⏳
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2025-07-09 16:13