Bitcoin is making waves today after successfully breaking out of a descending trendline that has capped price action for weeks. This move is signaling renewed strength, with bullish sentiment starting to take hold in the market.
Technical Breakdown:
Trendline Breakout:
BTC has cleared a key downtrend resistance that dates back to early February. This is a significant technical signal suggesting the downtrend might be over.
Price Structure Improvement:
A series of higher lows has formed, showing strong buying pressure around the $80,000 zone. Bulls are defending this level firmly, and now we’re seeing follow-through on the upside.
Volume Confirmation:
The breakout comes with increased trading volume—always a good sign that the move is backed by real market interest rather than a short-lived spike.
Moving Average Flip:
Bitcoin is trading above its short-term moving averages, which are starting to slope upwards. This further supports the bullish case in the near term.
What’s Next?
First Target – $89,000:
A psychological and technical resistance zone. If bulls maintain pressure, this level is well within reach in the short run.
Second Target – $94,000:
A clean break above
89K opens up space to test the next major resistance around $94,000. Momentum will be key here.
Technical Breakdown:
Trendline Breakout:
BTC has cleared a key downtrend resistance that dates back to early February. This is a significant technical signal suggesting the downtrend might be over.
Price Structure Improvement:
A series of higher lows has formed, showing strong buying pressure around the $80,000 zone. Bulls are defending this level firmly, and now we’re seeing follow-through on the upside.
Volume Confirmation:
The breakout comes with increased trading volume—always a good sign that the move is backed by real market interest rather than a short-lived spike.
Moving Average Flip:
Bitcoin is trading above its short-term moving averages, which are starting to slope upwards. This further supports the bullish case in the near term.
What’s Next?
First Target – $89,000:
A psychological and technical resistance zone. If bulls maintain pressure, this level is well within reach in the short run.
Second Target – $94,000:
A clean break above
89K opens up space to test the next major resistance around $94,000. Momentum will be key here.Trade active
trade activeNote
First Target $89,000 ReachedTrade closed: target reached
1st Target Reached $89,0002nd Target Reached $94,000
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
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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.
Join telegram channel free ..
t.me/GoldMan0009
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/GoldMan0009
t.me/GoldMan0009
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/GoldMan0009
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.