Bitcoin Hits All-Time High in Euro as It Breaks Final Monthly Resistance Level: Analyst Shares BTC Cycle Top Targets

Bitcoin has recently surpassed its final monthly resistance level, setting the stage for a potential surge towards its all-time high. This breakthrough has sparked a wave of optimism among traders and analysts, who are closely monitoring the implications of this pivotal moment.

Final Monthly Resistance Level Falls – Only One Obstacle Remains

Respected analyst Jelle declares victory for Bitcoin in conclusively cracking the last major resistance zone.

Bitcoin has broken the final monthly resistance level. There is no more resistance left — except for the psychological one, which is the old all-time high.”

The lone obstacle awaiting now stands as BTC’s former peak around $69,000. If bulls can eclipse this from a rounding top formation, open air opens above until the next technical barrier. Jelle remains adamant that the market index rises further.

No Smooth Sailing Expected – Volatility Still Rules

However, just because Bitcoin broke out further doesn’t guarantee perfect vertical continuation going forward without turbulence. Jelle caveats that holders must be prepared for gut-wrenching volatility even amid the overarching bullishness.

“Don’t get shaken out this week. We’re in for a ride,” Jelle warns, having observed harsh whipsaws playing out after previous breaches of significant macro resistance. While positive momentum clearly builds, bracing for two-sided swings helps avoid panic decision-making.

Record Peak In Sight For European Bitcoin Investors

Interestingly, while USD prices still remain below peaks, analyst Patrick Hansen notes Bitcoin has officially surpassed its prior all-time high valuations when priced against European currencies like the Euro.

So for international traders, fresh records are now established with virtually no substantial historical resistance left overhead. This diversification tailwind bodes well for lengthening the advancing cycle.

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Cycle Top Price Projections Range From $185K to $200K

As optimism spreads amid the mounting upside, analyst Milkybull examines past Bitcoin market cycles and institutional investment patterns to forecast likely cycle peak pricing projections based on historically reliable metrics.

Citing the Mayer Multiple Volatility Realization Z-Score (MVRV Z) that quantifies standard deviation ranges between market cap and realized cap as an insightful overextended reading, Milkybull believes cycle tops tend to conclude between 4.5 and 5.5 standard deviation stretches above mean values – correlating to BTC prices spanning $185,000 to $200,000 likely by early-mid 2025.

So in summary, whether near-dated upside targets or extremely bullish longer-term forecasts focusing years ahead, blockchain intelligence signals a decisively positive turning point now cemented for Bitcoin – with holders increasingly eyeing the next major peak rather than risking further downside as narrative momentum shifts gears.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.