Bitcoin's Bull Market Potential Remains Strong Amid Price Rebound

According to Cointelegraph, Bitcoin (BTC) is showing signs of continued strength in its bull market, as recent analysis suggests that the cryptocurrency is unlikely to have reached its peak. The price of Bitcoin recently surpassed $114,000, driven by favorable U.S. macroeconomic conditions, and analysts believe there are more reasons for optimism among investors. Rekt Capital, a well-known trader and analyst, highlighted that Bitcoin has not only broken its local downtrend but is also challenging a significant resistance zone at $113,000. He noted that each rejection from this level has resulted in progressively smaller pullbacks, indicating a weakening point of rejection. Bitcoin's recent price action saw it close above a crucial trend line on September 2, following a period of downward movement that brought it to its lowest levels in nearly two months. Despite bearish forecasts during its dip below $108,000, Rekt Capital remains confident that the bull market is far from over. He argues that it is unlikely Bitcoin has already peaked, as this would imply an unusually short cycle. Instead, he suggests that market cycles are becoming slightly longer over time. Market participants are also observing a potential short squeeze, with popular commentator TheKingfisher pointing out that a majority of liquidity is now positioned just above the current spot price, creating a short-term attraction. Keith Alan, co-founder of Material Indicators, identified the next challenge for bulls at the 50-day simple moving average (SMA) around $114,700, which is near the psychological $115,000 level. He confirmed that resistance is expected at this point, as the entire price movement has developed with a degree of predictability based on dynamic liquidity placements and whale order flow. This analysis underscores the ongoing potential for Bitcoin to reach new all-time highs, as liquidity shifts continue to influence its price trajectory. Readers are reminded that investment and trading decisions carry risks, and it is essential to conduct thorough research before making any financial commitments.