BitcoinLong
BTC Will Soon Break the 100k Gate
1. Ascending Triangle Formation:
- BTC has formed an Ascending Triangle, signaling bullish momentum as it approaches the critical resistance zone labeled as the "100k Gate."
- A breakout above this level could pave the way for significant upside movement.
2. AB=CD Pattern Validation:
- The AB=CD pattern projects a short-term target at $107,500, aligning with the 2.618 Fibonacci extension.
- This suggests a well-defined structure supporting the next leg up.
3. Wave Structure:
- Wave 5=3*1.618 implies a potential rally toward $111,403 if the breakout holds.
- The impulsive wave count supports a continuation of the bullish trend.
4. Resistance and Fibonacci Targets:
- Initial resistance lies at the psychological $100,000 level, followed by Fibonacci extension targets:
- $107,500 (2.618 extension)
- $112,244 (3.618 extension).
Trade Plan:
- Entry: On breakout above $97,500 with confirmed volume.
- Targets:
- TP1: $107,500
- TP2: $114,657
-Stop Loss: Below $94,000, near the lower trendline support.
Risk Management:
Be cautious of potential rejections near $100,000, and adjust position sizing accordingly to handle market volatility.
Note
Finally BTC Reach 100K, What a beautiful journey :D
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