Date: Sun, 01, 2025 | 08:10 AM GMT
The cryptocurrency market, after mounting a solid rally since the start of Q2—during which Bitcoin (BTC) surged by 26% to hit a new all-time high of nearly $112K on May 12—experienced a pullback in late May that brought the price down to a low of $103K before recovering to its current level above $104K.
However, a well-known pattern forming on the chart suggests that a bounce-back may still be possible.
Key Harmonic Pattern Emerges
On the 4-hour chart, BTC is forming what appears to be a textbook Bullish Gartley Harmonic Pattern. This advanced technical setup often signals a possible trend reversal or the beginning of a new upward move.
After reaching a recent low of $103,121, Bitcoin has already started showing signs of recovery and is currently trading around $104,300. If the harmonic structure continues to unfold, BTC may be gearing up for a move toward the 0.618 Fibonacci level at $108,629.
If momentum remains strong, the rally could extend further toward the 1.0 Fib level near $112,037 — suggesting a potential upside of 4% to 7% from the current price.
What’s Next For BTC?
If BTC manages to break through the 0.618 Fib resistance with strong volume and momentum, it could retest its recent all-time high of $112K. However, if momentum fades at the 0.618 level, that area could act as a short-term reversal point, possibly leading to a pullback before any further continuation to the upside.
Final Thoughts
The presence of the Bullish Gartley pattern combined with BTC’s ability to hold above $103K suggests that a recovery could be on the horizon. Traders and investors should monitor the $108K zone closely. A breakout could confirm bullish continuation, while rejection might signal another pause in the rally.
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