Bitcoin’s recent drop of 7.8% may be a final shakeout before a breakout to $150,000. The cryptocurrency has reclaimed its 50-day exponential moving average, a key support for initiating rallies. Analysts predict a potential move towards $148,000, aligning with an inverted head-and-shoulders pattern breakout.

A whale’s 80,000 BTC selloff marks the third profit wave, usually preceding a recovery. Historical data shows previous profit-taking waves leading to price consolidation or corrections of 2-4 months. This cooling phase typically sets the stage for renewed accumulation and eventual breakouts to new highs. Analysts suggest another cyclical cooling phase is underway.

Read more at Cointelegraph: Can BTC Price Rebound 30%?