Bitcoin Market Status
As of June 24, Bitcoin has rebounded to $105,000** after completing its corrective phase from the $111,959 high. Ethereum follows at $2,400**. Technical indicators confirm the downtrend to $98,000 has conclusively ended, marking the start of a new bullish cycle targeting $130,000+.
Technical Breakdown
The recent pullback formed a textbook ABC correction pattern:
- A-wave: Initial decline from $111,959
- B-wave: Symmetrical triangle consolidation
- C-wave: Final drop to $98,000 support
With this structure complete, Bitcoin has entered its next C-wave uptrend—the primary growth phase where strategic long positions yield maximum returns.
Key Trading Insights
- Entry Strategy: Accumulate positions above $103,500 with stop-losses below $101,000
- Projected Timeline: This rally may unfold over 4-6 weeks
- Risk Management: Maintain <5% portfolio exposure per trade
"Volatility compression during the B-wave signaled an imminent breakout. Now that confirmation is in, we're positioned for the most profitable segment of this cycle." — Trading Analyst
Frequently Asked Questions
Q: Why target $130K specifically?
A: This aligns with the 1.618 Fibonacci extension level from the recent correction, a historically reliable profit-taking zone.
Q: How does Ethereum's outlook compare?
A: ETH mirrors BTC's bullish structure with a $3,400 target, offering altcoin traders leveraged opportunities.
Q: What triggers could accelerate this rally?
A: Institutional ETF inflows and shrinking exchange reserves create fundamental support for the technical setup.
Market Psychology Considerations
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Traders often underestimate how:
- FOMO peaks coincide with 70-80% of the move
- Liquidity gaps form near round-number targets ($120K, $130K)
- Media hype lags price by 2-3 weeks
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Disclaimer: This analysis represents observational market data, not financial advice. Cryptocurrency trading carries substantial risk—only allocate capital you can afford to lose. Always conduct independent research before executing trades.
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