Bitcoin Approaching Key Support as Analysts Foresee New Uptrend in 2025

The current outlook for Bitcoin indicates that it has bounced back from a recent dip below $100,000 and is now attempting to turn the resistance at $108,000 into support, which it has tested three times before. An analyst’s roadmap suggests that we are in a period of re-accumulation ranges, evolving since the end of 2022 and the last halving event. Historically, Bitcoin's price has experienced brief downward deviations before breakthroughs into new all-time highs, with recent patterns hinting at a possible second price discovery uptrend. However, a transitional phase has emerged, with consolidation around the re-accumulation range high, underscoring the importance of this support level at about $104,400. A weekly close above this key level could set the stage for a new longer-term uptrend, although the duration of this transitional phase might delay a breakout. The analyst also mentions that a short corrective dip of 25%-33% could occur, but this might pave the way for another uptrend before a potential prolonged cycle into 2025. Currently trading around $107,555, Bitcoin’s price action remains crucial for confirming the next phase of growth.