Big Bitcoin Upsides Predicted After Bullish Weekly Close

A weekly close above $119,200 will kickstart the breakout from a “bull flag” chart pattern, according to analysis by ‘Rekt Capital’ on Sunday.  They added that turning this level into support via a retest could occur over the coming week.

Bitcoin closed the week at $119,466 on Coinbase, according to Tradingview, which means that the bullish action could be in play.

https://twitter.com/rektcapital/status/1949602061760221508?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

A New Bitcoin ATH This Week?

Bitcoin is less than 3% away from its all-time high, having recovered from its dip to $115,000 on Friday. The asset hit an intraday high of $119,754 in late trading on Sunday, resulting in the bullish weekly candle closure.

“Bitcoin will find ways to shake investors out of their positions during price discovery uptrends,” said the analyst.

Fellow commentator ‘CrypNeuvo’ identified a large liquidation cluster at $113,800, stating, “I consider the downside liquidation cluster to be the natural target in the mid-term:” $114,500 to 113,600.

There is also an unfilled CME gap at $114,300, which “supports my projection of Bitcoin possibly attacking that liquidation cluster in the next 1-2 weeks,” he said.

Meanwhile, ‘Nunya Bizniz’ zoomed out, saying that there could be a big move to $164,000 before a retest of $109,000 if previous chart patterns repeated.

https://twitter.com/Pladizow/status/1949215312081281375?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

Bitcoin had returned to the middle of its range-bound channel during the Monday morning Asian trading session, building on weekend momentum.

A big week lies ahead with US inflation reports, American and Japanese central bank rate decisions, and a trade tariff deadline, which could all add to the volatility.

Ether Setting Up For Monster Move

ETH is currently outperforming BTC as it has for the past fortnight. The asset has surged 3.5% on the day to hit a seven-month high of $3,940, and analysts see bigger moves ahead.

Ether just posted its fifth green weekly candle in a row, closing at $3,873 on Coinbase, according to Tradingview.

Analyst ‘Merlijn The Trader’ observed a fresh MACD crossover and a three-year squeeze reaching its apex. “Break $4,200 and ETH will rip like 2021,” he said.

https://twitter.com/MerlijnTrader/status/1949469824847057049?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

Despite the mammoth monthly move by Ether, the asset remains down almost 20% from its 2021 all-time high.

Nevertheless, most are in agreement that this is now just a matter of time, given the unprecedented demand for the asset from institutions and corporations.

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