Bitcoin just set a new all-time high of $112,017.58, breaching its previous recorded high of $112,006 by the barest of margins. Yet, it marks a significant moment in what could be the start of a major $BTC rally.

From the lens of technical analysis, Bitcoin is currently forming an inside candle, a pattern where the current day’s price action remains within the high and low of the previous day.

Most importantly, this often signals a period of consolidation, suggesting that Bitcoin could be gearing up for a strong directional move. And since we’re in bullish territory, this could be the all-important sign that an upward continuation is on the horizon.

Keep reading to discover the key factors working in favor of Bitcoin, as well as…