According to Mihir (@RhythmicAnalyst), BTC is at its most critical juncture, with current technical analysis indicating that Bitcoin must close above the $200,000 level to decisively break the ongoing flattening long-term wave. A close in the $100,000 range is likely insufficient to trigger a sustained breakout or shift in market structure, as per source. This insight signals to traders that significant momentum and volume are required for BTC to move beyond its consolidation phase, impacting both short-term trading strategies and long-term investment positioning in the crypto market. Source: Mihir (@RhythmicAnalyst) on Twitter, May 18, 2025.

According to Trader Tardigrade, Bitcoin ($BTC) has formed a giant rising wedge pattern, which historically indicates a potential upward surge before a significant price correction. The analysis suggests Bitcoin could target the $200,000 level based on current chart formations, but traders should remain cautious of a possible crash following this peak. This technical setup is critical for crypto market participants to monitor, as it may trigger high volatility and affect altcoin performance as well (Source: Trader Tardigrade on Twitter, May 16, 2025).