Great to see this upside from Bitcoin as it firmly positions itself above $93500, in very similar fashion to late November 2024 (most left-side green circle)
If history repeats, Bitcoin could Weekly Close around these current highs of $97k but post-breakout retest $93500 next week (maybe even slightly lower if downside wicking occurs)
Even though the Bull Market EMAs are teasing to act as resistance, history suggests Bitcoin shouldn't struggle to break beyond them
However history suggests Bitcoin will struggle to keep them as support and the crossover may occur once the EMAs have been turned into new resistance from the underside of them - but that's a worry for another day
In the 2013 cycle, it took 6 weeks of upside into Price Discovery before #BTC experienced its first major correction in Week 7
In the 2017 cycle, it took 7 weeks of upside into Price Discovery before a first major retrace of -34% in Week 8
In the 2020/2021 cycle, $BTC rallied 6 weeks into Price Discovery before BTC's first meaningful pullback of -16%
Earlier in the 2025 cycle, Bitcoin rallied 7 weeks into Price Discovery Uptrend 1 before BTC's first Price Discovery Correction of -32%
Later in this 2025 cycle, Bitcoin then rallied for 6 weeks into Price Discovery Uptrend 2 before now experiencing a Price Discovery Correction 2 of almost -13% thus far
After Price Discovery Correction 2 end, the final Price Discovery Uptrend 3 would commence