Bitcoin Poised for Another Rally: Bullish Signals Point to Potential $175K-220K Targets

Bitcoin is exhibiting bullish momentum, as recent technical indicators and analysis point towards a potential surge in price. Key points include a tight consolidation pattern within a rising wedge on the chart, along with a bullish MACD crossover signaling upward momentum. Analysts suggest a target range of $175,000 to $220,000 based on Elliott Wave patterns. Although large whales have sold over 60,000 BTC recently, Bitcoin has remained resilient near the key support zone around $111,243.19. The price currently hovers near its recent high of $111,243.19, showing strong resilience despite this recent whale-driven selling activity.