Bitcoin Eyes $120K? Analyst Reveals What Comes After BTC’s 50-Day EMA Breakout

Bitcoin is showing renewed upward momentum, trading above $107,000 as it approaches its all-time high. The recent rebound suggests strong investor confidence despite a brief dip. A CryptoQuant analyst highlights Bitcoin's recapture of the 50-day EMA as a key bullish indicator. Historically, regaining this EMA has led to significant price gains. The analyst notes the current technical setup mirrors previous periods of upward movement. Geopolitical uncertainties, particularly involving the US, Israel, and Iran, could introduce volatility. Another analyst points to a bullish flag pattern forming in Bitcoin's price. This pattern suggests a potential breakout, possibly after a corrective dip. A confirmed breakout above $108,000 could lead to a mid-term target of $130,000. Both analysts agree on a generally bullish trend for Bitcoin, supported by technical analysis.