Is Bitcoin ready for another parabolic movement?

Hello Traders, in the chart, I've highlighted the points where Bitcoin has surpassed its total production cost (using the "Bitcoin Production Cost" indicator) from 2019 to today. Every time BTC has exceeded this level, we've seen significant parabolic movements, suggesting a potential upcoming bull run.

Currently, Bitcoin is once again surpassing this critical level, which could indicate a strong upward push. If the trend continues, a parabolic move towards new highs could be underway. 🚀

If BTC holds above the production cost level, long positions could be considered with short-term price targets around $120,000 and beyond.

💡Key levels to watch:

Consolidation above the production cost level could strengthen our long position.

Watch for any corrections that might signal an accumulation phase before the next big rally.

What’s your take on this setup? Let me know in the comments!


Disclaimer:
⚠️ This is not financial advice. Always do your own research before making any investment decisions. Crypto markets are highly volatile — manage your risk accordingly