On the day schedule of the first cryptocurrency, two bulls of MegaFon was formed. This can signal the preparation for new historical maximums, writes Cointelegraph.
The first figure appeared on July 11. The lower trend line is at $ 108,000, the upper one is about $ 124,900, which corresponds to the last historical maximum of bitcoin. Piercing this mark will open the way to the target of $ 144,200.
The second is formed over the past 280 days, the analyst said under the nickname Galaxy.
‘Bullish Megaphone’ Pattern for the Past 280 Days. pic.twitter.com/owjy5l4jot
– Galaxy (@galaxybtc) August 28, 2025
The nearest resistance is located next to $ 125,000. Overcoming this mark can run the rally to $ 206,800.
Cryptoenfluenser Faysal Bag was highlighted by a bull megaphone pattern for a weekly timeframe for an even more ambitious goal – $ 260,000. According to him, “the next stage of growth is inevitable.”
Probable rebound
The last correction of digital gold caused panic among the short -term holders – investors who own an asset of less than 155 days. Many of them sold at a loss.
The analyst under the pseudonym Frank emphasized that during a bitcoin rollback to $ 109,000, the MVRV indicator reached the resale zone for the first time since April. Then the price of cryptocurrency fell to $ 74,000, after which it was waiting for an increase of 51%.
On the pullback to $ 109k, $ BTC Tapped the ‘Oversold’ Zone on the Short-Term Holder MVRV Bollinger Band. The Last Occurrence Was at the $ 74k Bottom in April; SINCE THEN, BTC IS UP +51%. pic.twitter.com/cn2fxii4ss
– Frank (@frankafetter) August 27, 2025
The current MVRV indicator indicates the potential for the upward rebound, the expert noted.
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Source: Cryptocurrency
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