Bitcoin’s 8-Year Trendline Test at $117,250 Could Define Next Move
- The 8-year trendline has marked every major Bitcoin peak and correction since 2017.
- Past failures at this line led to steep pullbacks, while breakouts triggered record highs.
- The current test sits at $117,250, a level Soloway calls critical for confirming a breakout.
Chief Market Strategist Gareth Soloway flagged an 8-year trendline that has tracked every major Bitcoin top and correction since 2017. The same line capped the 2017 peak, both 2021 highs, and late 2024 into early 2025 rallies; each rejection bringing 30%+ drawdowns.
Whenever Bitcoin broke and held above the line, it later printed new all-time highs. That line now sits near $117,250.
Why $117,250 Matters
According to Soloway, Bitcoin must break above $117,250 and hold for at least a couple of daily closes to confirm a breakout. If it does, he believes history suggests another record high is likely…
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Bitcoin (BTC) Price Prediction For September 20
Bitcoin’s 8-Year Trendline Test at $117,250 Could Define Next Move
- The 8-year trendline has marked every major Bitcoin peak and correction since 2017.
- Past failures at this line led to steep pullbacks, while breakouts triggered record highs.
- The current test sits at $117,250, a level Soloway calls critical for confirming a breakout.
Chief Market Strategist Gareth Soloway flagged an 8-year trendline that has tracked every major Bitcoin top and correction since 2017. The same line capped the 2017 peak, both 2021 highs, and late 2024 into early 2025 rallies; each rejection bringing 30%+ drawdowns.
Whenever Bitcoin broke and held above the line, it later printed new all-time highs. That line now sits near $117,250.
Why $117,250 Matters
According to Soloway, Bitcoin must break above $117,250 and hold for at least a couple of daily closes to confirm a breakout. If it does, he believes history suggests another record high is likely…
Read The Full Article Bitcoin’s 8-Year Trendline Test at $117,250 Could Define Next Move On Coin Edition.
Read More