The Bitcoin price has recently formed a shooting star candle pattern, indicating a possible trend reversal that could trigger a moderate correction or consolidation within the $115,000 – $120,000 range.
Despite this bearish signal, the RSI indicator shows no evidence of bearish divergence, suggesting the red candle formation may simply represent a temporary cooling-off period before the next upward movement phase.
Bitcoin CME Gap Fill Provides Foundation for Next Rally
Currently trading at $118,885 at the time of writing, market analysts have noted that Monday’s decline to $115,736 represented Bitcoin’s effort to close the daily CME Gap situated between $114,000 and $117,000, which now serves as foundational support for a potential rally toward the $140,000 target.
The leading cryptocurrency, boasting a market capitalization exceeding $2.36 trillion and daily trading volume surpassing $50 billion, is currently following a Wyckoff Accumulation Pattern of Accumulation → Expansion → Re-accumulation → Vertical breakout.
Bitcoin’s current trendline positioning places it within the $136,000-$140,000 zone, which CryptoQuant data identifies as the upper resistance level, corresponding to the +1 standard deviation (STD) of Bitcoin holders who have maintained their positions over the past month.
Source: CryptoQuantTechnical Analysis: Bitcoin Bullish $136k – $140K Targets Remain Intact
The BTC/USDT daily chart shows a robust uptrend continuation, with the price currently positioned around $118,883, following the successful penetration of previous resistance barriers.
Despite the bearish candle formation, price action maintains a well-positioned stance above the dynamic short-term support provided by the 20, 50, 100, and 200-day exponential moving averages (EMAs), which display bullish stacking, confirming robust trend support.
Source: TradingViewAs long as BTC maintains levels above the $113,000–$114,000 zone (the EMA cluster), the bullish market structure remains intact.
A decisive breakout above $120,000 would likely catalyze movement toward the next major Fibonacci-derived target at $124,600, with the potential for an extension to $136,000.
The overall trajectory remains bullish unless a strong closing below the 50-day EMA occurs.
Bitcoin Hyper: Breakout Presale Gains Momentum as Altseason Heats Up
Unlike previous market tops in March and December 2024, current on-chain data shows the market is far from overheated — giving altcoins and presales plenty of room to run.
That’s exactly where Bitcoin Hyper is making waves.
This standout presale is the first Bitcoin Layer-2 project built using Solana’s high-speed Virtual Machine, designed to bring lightning-fast smart contracts and lower fees to the Bitcoin network.
With over $3 million already raised, Bitcoin Hyper is quickly becoming one of the most talked-about opportunities of this altseason.
The project aims to reduce transaction fees to near-zero levels and decrease transaction completion times to seconds rather than the typical minutes required on the base layer.
The utility token for Bitcoin Hyper is currently available for purchase and staking at the presale price of $0.012275, with staking rewards up to an attractive 297%.
To participate in the presale, buyers can connect their wallets (such as Best Wallet) on the Bitcoin Hyper website and make purchases using ETH, SOL, USDC, USDT, BNB, or credit card payment methods.
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