🚨 Crypto News: Bitcoin is delighting the crypto world with the possibility of a parabolic rally as it consolidates below the $95,000 level. According to a renowned analyst, the crypto king may be on the verge of a major breakthrough, reminiscent of its meteoric rise during the 2014-2017 cycle.

Recent observations highlight two key phases of accumulation above the weekly moving average, signaling long-term buying opportunities. Adding fuel to bullish forecasts, a setup similar to the one preceding Bitcoin's explosive jump to $20,000 back in 2017. The weekly RSI also reflects a reversal of momentum, which was observed in the early stages of 2017 and typically precedes sharp price rises.
If $BTC continues to hold to this historical trajectory, its cycle peak may coincide with the Fibonacci 7.0 extension, hinting at an ambitious target of $200,000 by the end of the year. However, this week may determine Bitcoin's trajectory as it jokes about establishing local support near $90,000. A breakthrough above the resistance level of $95,000 could ignite the long-awaited rally, but the inability to hold at the $90,000 support level may instead attract bearish winds.
With the participation of big names like Geoff Kendrick from Standard Chartered who support bullish hopes, institutional interest could further support the rise of Bitcoin into six-figure territory. Market observers are focused on future CPI data, which could add more volatility to the mix.
As $BTC is currently trading at $91,770, indicating a 3.27% decrease in the last 24 hours, the market is at a critical point. This short correction may allow the asset to gain strength before the next attempt to break through the resistance levels.
While Bitcoin captures attention, rising stars like Solaxy are also attracting investor interest. Positioned as a Tier 2 first on Solana, Solaxy innovatively leverages the functionality of multi-chains, combining the power of Solana and Ethereum to tackle blockchain congestion and increase DeFi scalability.
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⚠️ Attention: This analysis is for informational purposes only and should not be considered as financial or investment advice.