Bitcoin has officially confirmed a bullish breakout on the daily timeframe, signaling a shift in momentum. The chart reveals a textbook double bottom formation, providing the foundation for this latest move.
Key Technical Observations
The market is showing resilience, and the current price action aligns with a high-conviction setup. Always manage your risk accordingly as we watch for that retest to confirm the path to $96k.
Key Technical Observations
- Double Bottom Setup: The structure has successfully validated a support zone, setting the stage for a trend reversal.
- Breakoute & Retest: We are currently witnessing the initial breakout; a healthy retest of this level will likely serve as the final confirmation before the next leg up.
- Price Target: With the current structure in play, I am looking toward the $96,000 level as the primary target for this impulsive move.
The market is showing resilience, and the current price action aligns with a high-conviction setup. Always manage your risk accordingly as we watch for that retest to confirm the path to $96k.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.