Bitcoin Surges, Technical Analysis Points to 2028 $125K Target

Bitcoin has surged in recent days, with technical analysis suggesting it may challenge $125K by 2028 or sooner. According to a market analyst, buyers stepped in and shorts were forced to cover, marking excellent right-hand-base development on the longer weekly chart.

The Russell 2000 posted another 'bullish hammer' this week, negating bearishness from Thursday's black candlestick. Stochastics are oversold, but technicals remain net bearish, trading volume has picked up, and stability around $285 may give bulls something to work with for an end-of-year rally back to the $300s.

The equal-weighted S&P is another index looking to shape a swing low, near historic support. Buyers are back in around 8,600 from where the July rally was launched, and some market analysts see this as the makings of a reversal head-and-shoulders pattern.