Bitcoin is hovering around the $111,000 mark, consolidating after weeks of volatile swings that kept traders on edge.
The latest moves come as market commentators suggest that the long-anticipated “bear trap” phase may be nearing its conclusion, potentially setting the stage for a stronger upward breakout.
Crypto Rover, a widely followed market analyst, highlighted the classic market cycle chart, pointing to the bear trap phase as nearly complete. “Be ready. The pump is coming,” he wrote, suggesting renewed optimism could soon drive momentum.
Another post compared Bitcoin’s price structure to gold’s historical breakout, arguing that Bitcoin may be following a similar ascending wedge pattern that led to gold’s parabolic rally in past years.
The comparison underscores a growing narrative that Bitcoin could mimic traditional safe-haven assets in its next phase.
On the charts, Bitcoin continues to consolidate between $110,000 and $112,000, a level that has acted as short-term support. Despite recent pullbacks from July’s highs above $118,000, the price action suggests buyers are stepping in to defend key levels. If the current accumulation zone holds, analysts argue that a move toward renewed highs could unfold in the coming weeks.
Still, risks remain. Market cycles often lure investors with false rallies before major corrections, and macroeconomic uncertainties—such as central bank policy shifts and global liquidity conditions—will play a critical role in shaping Bitcoin’s trajectory.
For now, traders are watching closely to see whether Bitcoin can shake off the bear trap narrative and transition into the next growth phase, echoing the explosive runs of previous cycles.
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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/bitcoin-vs-gold-chart-patterns-hint-at-major-rally-ahead/