Bitcoin Price Forecast: Potential Breakout

This chart showcases Bitcoin's current market structure, hinting at a potential bullish breakout. After forming a descending wedge and consolidating just below the key resistance zone (~$70,000), Bitcoin could experience a dip towards ~$48,000 before rebounding. The projected trajectory suggests a surge above the previous highs, targeting levels over $100,000 by mid-2025. This analysis highlights Bitcoin’s cyclical nature, the significance of the $70,000 resistance zone, and the momentum required for a breakout toward new all-time highs.