Bitcoin is hovering around $114,800 after facing heavy resistance in recent trading, sparking a debate among analysts over whether the cryptocurrency is nearing its next major top or preparing for another push higher.
Crypto analyst Ali highlighted historical cycle patterns, noting that Bitcoin could be just two months away from reaching its market peak if it follows the trajectory of the last two bull runs. In previous cycles, Bitcoin peaked roughly at similar intervals after hitting cycle lows, which suggests that the current market may be approaching a climactic phase.
Analyst Eyes Critical Support Levels
Michaël van de Poppe offered a more cautious perspective, pointing to the recent rejection at resistance. He suggested Bitcoin needs to establish a higher low between $114,000 and $114,500 to confirm strength. If that level holds, it could indicate that the market is still within a bullish range, giving room for another leg up.
Market Data
At press time, Bitcoin trades at $114,864 with a market capitalization of over $2.28 trillion and daily trading volume exceeding $66 billion. The cryptocurrency is down 1.89% on the day and 2.44% over the past week, showing signs of short-term weakness despite its strong longer-term trend.
Technical Indicators
On the hourly chart, Bitcoin’s RSI is hovering near neutral levels at 51, while the MACD shows signs of fading bullish momentum. Price action suggests consolidation after sharp swings earlier in the week, with traders watching closely for either a breakdown below $114K or a renewed attempt to reclaim resistance above $118K.
What Comes Next?
The debate now centers on whether Bitcoin is forming a temporary consolidation before another rally or if the long-anticipated cycle top is close at hand. A sustained move above $120,000 would likely reignite bullish sentiment, while a breakdown under $114,000 could open the door for deeper corrections.
For now, traders are bracing for heightened volatility in the weeks ahead, with historical cycle analysis suggesting that the most explosive phase of this bull market may be just around the corner.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/history-says-bitcoin-peak-is-2-months-away-will-it-repeat/