Can Bitcoin (BTC) reach a new ATH at USD118K?

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If you look at the chart, BTC has made a similar rally in January 2021 and January 2024, and if you take into account the height of the cup, the price that BTC can reach may be USD118k!

However, BTC is already at the end of the Bullish Trend if you see that the price has fallen and reached EMA50 (green line). Could it be Bearish? or will the price drop for a while and make an increase to the New ATH at 118K?