BitcoinLong
BTC Breakout! Next Target $81500
Bitcoin is in price discovery again
1. Resistance Breakout: After months of consolidation, BTC has surged past the previous ATH resistance, indicating strong buyer interest. This breakout shows potential for a sustained rally.
2. Fibonacci Extension Levels: Using the Fibonacci extension from recent lows, the next major resistance aligns near $81,500. This target matches up with historical support and resistance flips, where price action has shown sensitivity.
3. Volume Confirmation: We’re seeing an uptick in buying volume, which supports the breakout. A consistent volume surge often confirms trend continuation.
4. RSI Momentum: On the daily and weekly charts, RSI remains in bullish territory but hasn’t reached overbought conditions yet, leaving room for further upside.
5. Macro Sentiment: With institutional interest and macroeconomic conditions favoring Bitcoin, sentiment continues to support BTC’s rally.
Cautionary Note: Always monitor for potential pullbacks to support zones. Keep an eye on $75,000 as a potential retracement level before the next leg up.
Do your own research! This is not financial advice. 🛠️ Let’s keep an eye on the price action and see if BTC can reach that next target!
1. Resistance Breakout: After months of consolidation, BTC has surged past the previous ATH resistance, indicating strong buyer interest. This breakout shows potential for a sustained rally.
2. Fibonacci Extension Levels: Using the Fibonacci extension from recent lows, the next major resistance aligns near $81,500. This target matches up with historical support and resistance flips, where price action has shown sensitivity.
3. Volume Confirmation: We’re seeing an uptick in buying volume, which supports the breakout. A consistent volume surge often confirms trend continuation.
4. RSI Momentum: On the daily and weekly charts, RSI remains in bullish territory but hasn’t reached overbought conditions yet, leaving room for further upside.
5. Macro Sentiment: With institutional interest and macroeconomic conditions favoring Bitcoin, sentiment continues to support BTC’s rally.
Cautionary Note: Always monitor for potential pullbacks to support zones. Keep an eye on $75,000 as a potential retracement level before the next leg up.
Do your own research! This is not financial advice. 🛠️ Let’s keep an eye on the price action and see if BTC can reach that next target!
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