As the chart illustrates, Bitcoin continues to consolidate within a well-defined range, bounded by the key support at $100,000 and the significant resistance at $117,000. Periods of such compression are typically followed by a decisive directional move, which establishes a new trend path.
Our analysis favors a resolution to the upside. A confirmed breakout, characterized by a decisive daily close above the $117,000 resistance level, would be a strong technical signal. This would invalidate the current range-bound structure and likely reactivate the primary bullish trend.
Such a breakout would open a clear path for price discovery toward new all-time highs. The initial projected technical target following a successful breach is the $140,000 zone, which represents the next major psychological and technical objective.
DISCLAIMER: ((trade based on your own decision))
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Our analysis favors a resolution to the upside. A confirmed breakout, characterized by a decisive daily close above the $117,000 resistance level, would be a strong technical signal. This would invalidate the current range-bound structure and likely reactivate the primary bullish trend.
Such a breakout would open a clear path for price discovery toward new all-time highs. The initial projected technical target following a successful breach is the $140,000 zone, which represents the next major psychological and technical objective.
DISCLAIMER: ((trade based on your own decision))
<<press like👍 if you enjoy💚
Trade active
the market is potentially entering a phase of accumulation in preparation for the next bull cycle. Bitcoin is demonstrating significant strength in its technical structure, positioning itself for a substantial upward move. Our analysis projects a price objective of at least $140,000 for this anticipated cycle.Trade closed: target reached
WHALE BUY zone did touch and it is holding strong and soon gain can start to the next ATH even.My telegram channel:
t.me/mmbtchannel
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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.
My telegram channel:
t.me/mmbtchannel
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned messages in my telegram channel for more info.
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.
