Bitcoin clawed back losses on Monday, rising to nearly $110,000 after US President Donald Trump\u2019s unexpected EU tariff announcement rattled markets over the weekend.<\/p>\n
A key technical pattern has now emerged, which could potentially hint at the next major move in the cryptocurrency\u2019s ongoing price trend.<\/p>\n
Bitcoin may be on track to reach $112,000 following the activation of a classic double bottom pattern, according to CryptoQuant\u2019s report<\/a>.<\/p>\n The pattern\u2014often viewed as a strong bullish reversal signal\u2014formed around key support levels at $106,800 on May 23 and $106,600 on May 25, with a neckline at $109,000. The price has since broken above the neckline and is currently trading above $109,400.<\/p>\n CryptoQuant noted that this breakout occurred with strong trading volume, thereby indicating growing bullish momentum. If the breakout level continues to hold as support, analysts believe a move toward the pattern\u2019s projected target of $112,000 is likely.<\/p>\n \u201cDouble bottoms are where the market says: \u2018We\u2019ve sold enough.\u2019 When buyers defend the second bottom, it sends a message: Now it\u2019s our turn. But remember, not every pattern plays out. Know your risk, make your decision.\u201d<\/p>\n As Bitcoin holds firm above key technical levels, gauging the on-chain metrics reveals a quiet tug-of-war unfolding beneath the surface.<\/p>\n Bitcoin\u2019s<\/a> recent price action reveals a growing divergence between retail behavior and whale activity, as per the latest on-chain analysis<\/a>. Despite prices grinding higher, exchange netflows remain negative, which implies that more BTC is leaving exchanges than entering.<\/p>\n At the same time, the Taker Buy\/Sell Ratio has dropped below 1.0. This figure signals that aggressive selling continues, which is likely driven by retail investors de-risking. However, the absence of large inflow spikes suggests there\u2019s no widespread panic or major distribution.<\/p>\n Analysts have interpreted this as a potential stealth accumulation phase by smart money. If prices hold amid rising sell pressure, a short squeeze and bullish continuation could follow.<\/p>\n The post Bitcoin (BTC) Brushes Off Geopolitical Jitters: Here Is the Next Target in Sight<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin clawed back losses on Monday, rising to nearly $110,000 after US President Donald Trump\u2019s unexpected EU tariff announcement rattled markets over the weekend. A key technical pattern has now emerged, which could potentially hint at the next major move in the cryptocurrency\u2019s ongoing price trend. Bitcoin\u2019s Double Bottom Formation Bitcoin may be on track […]<\/p>\n","protected":false},"author":0,"featured_media":69108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69107"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69107"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/69108"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bullish Continuation Likely<\/h2>\n