Recently, Bitcoin successfully reached our target, hitting a new all-time high around $112,000. This milestone marked a significant achievement, driven by improving fundamental data and bullish sentiment.
However, the rally was short-lived. Following the recent speech from Donald Trump, market momentum shifted, and profit-taking intensified. Technically, Bitcoin appears to have formed a false breakout above the global resistance level at 110,000, which was the previous all-time high.
Currently, Bitcoin may be entering a consolidation phase, potentially trading within a range of $106,000 to $104,000 in the short term. Traders should watch this range closely, as a breakout below could trigger deeper corrections, while a strong rebound could signal renewed bullish momentum.
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However, the rally was short-lived. Following the recent speech from Donald Trump, market momentum shifted, and profit-taking intensified. Technically, Bitcoin appears to have formed a false breakout above the global resistance level at 110,000, which was the previous all-time high.
Currently, Bitcoin may be entering a consolidation phase, potentially trading within a range of $106,000 to $104,000 in the short term. Traders should watch this range closely, as a breakout below could trigger deeper corrections, while a strong rebound could signal renewed bullish momentum.
Ps Support with like and comments for more analysis Thanks for Supporting.
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Related publications
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.