Recently, I noticed an interesting technical pattern appearing on Bitcoin charts. This pattern is called bump and run reversal, a classic reversal signal that often indicates significant price turns in technical analysis.

In simple terms, this pattern typically develops as follows: first, a strong upward move reaches a certain high point and encounters resistance, then a pullback occurs, followed by a small rebound. This small rebound is the "bump," while the previous decline is the "run." Once the entire process completes, it often triggers a new trend.

Currently, Bitcoin seems to be playing out this pattern. Some time ago, Bitcoin surged to around $130,000, and this rally was quite fierce, possibly driven by institutional funds, spot ETFs, and market sentiment. But afterward, the market experienced profit-taking and risk adjustment, with the price dropping noticeably from the high. This is normal—after a large rally, some profit-taking is expected.

Interestingly, Bitcoin has recently started to rebound again. This rebound is the "bump." If this pattern truly holds, we might see a strong upward move next. The key is whether trading volume and price action can confirm this reversal.

Looking at the data, BTC is currently around $66,790, with a 24-hour increase of +1.11%. If it can hold above the critical support of $100,000, the next target could be $120,000 or even higher. But if it falls below $100,000, caution is needed as this pattern might fail, and there could be further downside.

In the long term, if Bitcoin successfully reverses within this bump and run pattern and maintains its upward momentum, reaching new highs is possible. The growth drivers in the crypto market are still present, and institutional interest hasn't waned. These are positive signs. However, traders should still manage risks carefully, set stop-losses, and not be scared by short-term volatility.

XRP is now at $1.32, down slightly by -0.37% over 24 hours. ETH is at $2.03K, with a relatively good gain of +2.12%. If you're interested in the technicals of these assets, you can follow their trends on Gate and analyze the opportunities yourself.