Bitcoin News: BTC Skyrockets Past $118,000 as Wyckoff Markup Phase Begins
Bitcoin is making headlines again as it surges past $118,000, signaling the start of the Wyckoff markup phase. This bullish move has traders and investors buzzing—could this be the beginning of a historic rally? Let’s break down the key developments and what they mean for the future of BTC.
Bitcoin News: Why Is BTC Entering the Wyckoff Markup Phase?
Bitcoin’s recent breakout above $118,000 confirms its transition into the Wyckoff markup phase, a critical stage in its bull cycle. Here’s what’s driving this move:
- Golden Cross Confirmation: The bullish crossover of the 50-day and 200-day moving averages reinforced upward momentum.
- Spring Event: The April 6 low at $106,400 acted as a springboard, validating the reaccumulation phase.
- Institutional Demand: Increased buying from large investors indicates strong hands absorbing supply.
Bitcoin Bull Run: Key Resistance Levels to Watch
With BTC now in Phase E (markup), traders are eyeing critical price zones:
| Resistance Level | Significance |
|---|---|
| $125,000 | Short-term psychological barrier |
| $140,000–$165,000 | Major liquidity zone; potential profit-taking area |
BTC Price Prediction: Can Bitcoin Reach $165,000?
If Bitcoin holds above $140,000 with strong volume, the path to $165,000 becomes clearer. The Wyckoff model suggests this rally could extend before a new distribution cycle begins.
Cryptocurrency Market Analysis: What Traders Should Do Now
With Bitcoin in markup mode, here’s how to navigate the market:
- Watch Volume: Sustained high volume confirms institutional participation.
- Monitor Corrections: Pullbacks should hold above $118,000 to maintain bullish structure.
- Plan Exits: The $140,000–$165,000 range may trigger volatility.
Conclusion: Is This Bitcoin’s Next Big Leap?
Bitcoin’s breakout into the Wyckoff markup phase sets the stage for a potential run toward $165,000. While the trend remains bullish, traders should stay alert for signs of exhaustion. The coming weeks will test whether BTC can sustain this momentum.
Frequently Asked Questions (FAQs)
1. What is the Wyckoff markup phase?
The Wyckoff markup phase occurs after accumulation, where price trends upward as demand outweighs supply.
2. How high can Bitcoin go in this cycle?
Key targets include $140,000 and $165,000, but momentum and volume will determine the peak.
3. Should I buy Bitcoin now?
While the trend is bullish, always assess risk tolerance and wait for confirmed support levels.
4. What could stop this rally?
A breakdown below $118,000 or weakening volume could signal a reversal.
