The chart signals strong bullish momentum, with the breakout above the ascending channel reinforcing upward bias. Traders should focus on buying pullbacks or trading breakouts while being mindful of potential overbought conditions. Risk management is crucial as the price approaches psychological resistance levels.
Bitcoin is likely to rally to at least $100,000 before a significant retracement to $60,000. If momentum persists, it could overextend to $110,000-$115,000. However, overbought signals suggest caution, watch for reversal patterns and volume trends to confirm a retracement.
Bitcoin is likely to rally to at least $100,000 before a significant retracement to $60,000. If momentum persists, it could overextend to $110,000-$115,000. However, overbought signals suggest caution, watch for reversal patterns and volume trends to confirm a retracement.
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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.