Bitcoin reaches $111K as classic chart pattern projects 70% gains next

Bitcoin (BTC) surpassed $111,000 on Monday, fueled by improving macroeconomic conditions, including potential US-China trade de-escalation and expectations of a Federal Reserve rate cut. Technical indicators, such as a bullish divergence on the RSI, signaled waning sell-side pressure. Furthermore, multiple bull flags on the two-week chart project substantial upward targets for BTC, ranging from $186,000 to $192,000 in the coming weeks. One analyst noted that breaking $115,000 would confirm a smaller flag targeting $192,000, while others suggest even higher peaks or a more conservative target of $141,300 based on different chart patterns.

(Source：Cointelegraph)