Bitcoin Rips to $76,000 on Trump Pump. Can It Hit $100,000 Next?Bitcoin BTC/USD was fully onboard with Donald Trump’s race to the White House. With much fanfare and celebration, the orange coin crossed $76,000 to hit a new record as the former President clinched the top spot in American politics in a stunning comeback, defeating Democrat Kamala Harris.
So, what’s with that big surge and what can you expect ahead for the crypto industry under a Trump presidency? Let’s find out.
Bitcoin BTC/USD , the original cryptocurrency, is in full beast mode now that former President Donald Trump has defeated Vice President Kamala Harris to win the White House. The price of Bitcoin rocketed to the rarefied air of $76,000 on Wednesday, gaining more than 9% on the day and catapulting its valuation to a record $1.5 trillion.
Bitcoin has been a centerpiece in Donald Trump’s campaigning efforts. It’s part technology, part investment — two things Trump loves and embraces. In fact, he seems enamored with the coin and went the extra mile for it. Not only has he reiterated his support for the crypto industry, but has vowed to make the US “the Bitcoin superpower of the world” and the “crypto capital of the world.”
Big-shot crypto players, such as Andreessen Horowitz and Gemini founders the Winklevoss twins are cheering Trump’s victory after they had endorsed him and spent lavishly on his campaign and on promoting pro-crypto candidates for Congress.
“We are on the brink of a new American Renaissance,” said Tyler Winklevoss in a post on X . “The crypto army is striking!”
Brian Armstrong, CEO of Coinbase COIN , also praised Trump’s election win. “Welcome to the new members of America's most pro-crypto Congress ever…” the crypto exchange boss said on X . “219+ pro-crypto candidates and counting have now been elected to the House & Senate.” “Tonight the crypto voter has spoken decisively.”
Hopes are high now and the agenda is already looking busy. Overjoyed crypto circles expect three main things from Trump:
1) To pass crypto-friendly laws and regulations that will help propel the industry ahead of its foreign competitors (China and Russia, mostly) in terms of business, mining and trading.
2) To fire Securities and Exchange Commission Chairman Gary Gensler “on day one.” Gensler is seen as a villain to the broader adoption of crypto both on Wall Street and in general. During Gensler’s tenure, the SEC has chased down crypto exchanges, such as Coinbase, Kraken and Crypto.com with more than 100 lawsuits.
3) To create a Bitcoin strategic reserve — a lofty ambition, which will make sure the US government never sells its Bitcoin (currently the US holds roughly 200,000 BTC). More on this below.
There’s already a bill introduced by Sen. Cynthia Lummis (R–Wyo.) to whip up a reserve with a target of 1 million Bitcoin over five years (200,000 BTC a year).
“For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin,” Trump has said during a campaign speech.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the Bitcoin the US government currently holds or acquires into the future,” he said. Currently, the government every now and then auctions off its Bitcoin, which has been seized from criminals.
With that in mind, how is Trump and the Republicans broadly going to approach the next four years?
In short:
Pro-business
Pro-growth
Light regulations
Low taxes
Or, as Tesla TSLA CEO and vocal Trump backer Elon Musk expects, "The future is gonna be so 🔥"
Besides Bitcoin, how did the result of Election Day bump up other digital assets and crypto stocks?
Ethereum ETHUSD , the second-largest coin, got a 10% boost to its price, going over $2,800 a piece. Solana SOLUSD , an Ethereum rival, pumped to levels above $190 from under $170. Dogecoin DOGEUSD , the Shiba Inu-themed coin beloved by Musk, surged more than 30% in volatile trading and crossed 21 cents before paring back some of the gains to slide under the 20-cent threshold. In general, it was a good day for cryptocurrency markets .
Crypto stocks reacted with a sharp dash to higher grounds as well. Crypto exchange Coinbase COIN pumped 31% to notch its best day ever . Bitcoin-hoarding software firm MicroStrategy MSTR surged 13%, lifting its year-to-day gains to a whopping 276% increase.
Crypto miners’ stocks also participated in the rally. Riot Platforms RIOT gained 26% on the day, followed by Marathon Digital’s MARA 19% increase. Another Bitcoin miner, Core Scientific CORZ , closed up by 10% on the day.
Over to the exchange-traded fund space. The burgeoning crypto ETF space turned up some impressive figures. The pack of 11 spot Bitcoin ETFs collectively pulled in $612 million of net new money on Wednesday. The spot Bitcoin investment vehicles now command $26 billion in assets under management.
Ethereum ETFs, a bundle of 9 , picked up $52 million of daily net inflows, bringing the total amount of investments to $1.35 billion.
With that said, were you brave enough to chip in before the big Election Day? And do you think the door to $100,000 is now wide open? Drop your thoughts below and let’s whip up the discussion!
Btc-e
Bitcoin is Ready for Correction==>>Short term!!!Bitcoin ( BINANCE:BTCUSDT ) is moving in an ascending channel in the 15-minute time frame, and we can also see another ascending channel in the 1-hour time frame .
Currently, Bitcoin is moving near the upper line of the ascending channel(Big) and Potential Reversal Zone(PRZ) .
According to Elliott's wave theory , Bitcoin seems to be completing the main wave 5 .
I expect Bitcoin to decline to at least the Support zone($75,400-$75,000) and the lower line of the ascending channel(Small) after the completion of the main wave 5 .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin can grow a little more and then make correctionHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some time ago declined from the buyer zone and entered the wedge. In this pattern, the price rebounded up to the resistance line from the support line, after which made a correction and then in a short time rose back, breaking the 67100 level. Then price exited from the wedge and continued to grow to a current support level, which coincided with the support area and when it reached this level, BTC broke it. Then it little grew and turned around, after which started to decline inside the downward channel, where it broke the 72100 level and fell until to the 67100 support level. After this movement, the price made a strong upward impulse to the current support level, exiting from the channel and soon breaking the 72100 level too. Next, the price made a retest and continued to move up, but a not long time ago it turned around and little declined. For this case, I think that BTC can grow a little more and then make correction to the 72100 current support level. That's why I set my TP at this level. Please share this idea with your friends and click Boost 🚀
HelenP. I Bitcoin will correct to support zone and continue riseHi folks today I'm prepared for you Bitcoin analytics. Some time ago, the price declined to the trend line and then at once rebounded up and rose to support 2, which coincided with the support zone. Soon, the price broke this level, made a retest, and continued to grow, but later turned around and made a correction movement to support 2. Then, BTC tried to grow again but made a correction one more time to the trend line, and then it finally started to rise. In a short time, BTC grew to support 1, which coincided with one more support zone, some time traded near and then dropped to the trend line. Price some time traded between this line and later made a strong impulse up, breaking support 1 and even rising higher than the support zone. At the moment, the price continues to move up and I expect that BTCUSDt will correct to the support zone and then continue to move up. For this reason, I set my goal at 77400 points. If you like my analytics you may support me with your like/comment ❤️
ETHFI → A door has been opened to the bulls. Resistance retest BINANCE:ETHFIUSDT is forming a bottom. The coin continues to accumulate potential giving signs that the price is preparing to go up. The fundamental background is changing to favorable
The U.S. presidential election and Trump's victory have a favorable impact on the cryptocurrency market in the medium and long term. This will be especially visible after the inauguration of the new (old) president :). Fundamentally, the market opened another door....
Technically, there is a clear bottom at 1.092 with no attempts to renew the low, and a basic cascading support is formed, indicating the buyer's strength. The focus is on consolidation of 1.798 - 1.092. The price exit from this channel will be accompanied by a strong distribution (most likely upward)
Resistance levels: 1.798, 2.761 3.240
Support levels: 1.302, 1.092
There is a conglomerate of resistances ahead (descending line and channel boundary at 1.798). In the near future the market may continue to test this area with a breakout target. If the bulls can keep the defense above these areas, the rally will not be long in coming.
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHFIUSDT.P ;)
Regards R. Linda!
$BTC marketcap critical point, signaling the alt season coming.CRYPTOCAP:BTC has reached a critical 60% dominance level, which in the past has often signaled the start of an alt season. While history doesn’t always repeat itself, several other indicators confirm this signal:
- Stochastic RSI is highly overbought
- Bearish divergence
- MACD is also in overbought territory
Based on my analysis, altcoins are likely to see some relief in November, potentially pumping and outperforming $BTC.
BITCOIN made new ATH and the rally has only just begun!Bitcoin (BTCUSD) is marching towards our 88k short-term Target as we called on October 16 (see chart below):
As the U.S. elections have now been concluded with Trump's victory, we can now once more focus on the long-term horizon, particularly looking 1 year ahead.
Basically, the last time we looked at this pattern was back in August 14 2023 (see chart below), where we used the KSI indicator on the 3W time-frame, which has just made a Bullish Cross, to call the upcoming parabolic rally correctly:
This time we bring to you the last bullish signal of the upcoming multi-month Parabolic Rally, which is the 2W LMACD that is about to form a Bullish Cross. As you can see such a Cross was formed exactly on the November 08 2016 U.S. elections (Trump's 1st win), and a few months before the November 03 2020 elections. What followed was the most aggressive rally (green Rectangle area) of the Bull Phase (green parabolic channel) that started when the price broke above the 2W MA50 (blue trend-line).
As a result, we expect BTC to rise aggressively from here, entering the post-U.S. elections bullish phase that may very well exceed the $100k psychological barrier, as we've shown in previous analyses.
But what do you think? Will the new ATH today spark a full year of Bull for Bitcoin? Feel free to let us know in the comments section below!
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$BTCUSD Bitcoin will continue to growBitcoin has been in correction for 160 days. Now, there is a redistribution of hands, and among those who bought for the past 160 days, the average purchase price is 64k.
According to the structure, we see liquidity withdrawal from the bottom in each correction—marked with red crosses—which means that they liquidate long positions and then continue to move up.
We still have a year until the end of the bull cycle, and I think you will be pleasantly surprised when you see what prices will be in the next three months. Summer is over, and the most interesting time in the market is starting.
I am now more focused on the altcoin market and the cryptocurrency market. As they have more potential to rise/fall:)
Right now, the fear and greed index is down
I'm looking positively into this fall and the next three months. If there will be a fall, it will not last long and will be bought back quickly.
Best regards EXCAVO
Is Trump’s Presidency a Bigger Win for DeFi than Bitcoin? Were decentralized finance (DeFi) assets like Ethereum underestimated leading up to the election?
Ethereum is now outpacing Bitcoin following Donald Trump’s 2024 U.S. presidential win, with Ether (ETH) gaining 4% in the past 24 hours (and 14.1% in the past 5 days). Bitcoin on the other hand is down 0.4% in the past 24 hours)
Analysts suggest that the Republican administration’s expected support for DeFi will play a pivotal role in Ethereum’s growth.
Trump has signaled interest in policies that could nurture blockchain technology, encouraging legislative reform to promote DeFi innovation in the U.S.
Bitcoin may hold its status as a store of wealth (and even a potential alternative reserve for the US treasury), but Ethereum’s recent performance suggests it’s increasingly well-positioned to benefit from the changing policy environment.
BTC INTRADAY POWELL INFLATION
Hello, dear intraday degens where the action is happening right now!
BTC is testing the last intraday high as support, with volume trending in the right direction. There’s plenty of support below if this level breaks.
In other news, the Federal Reserve has cut interest rates by 25 bps, which should be positive news and may help push the price up.
Still, nothing should be taken for granted in crypto trading—stay safe!
Bitcoin - Time to buy again!I was just waiting for the elections to be over. Now, it can be said that Bitcoin can reach $100,000 next year, and I believe in this. Technically, the price managed to break the megaphone, and this is confirmed when two or three candles close above this resistance. If this happens, you know better than I do what will happen next !!!
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
BINANCE:BTCUSDT
What reaction does the market have to the elections?The price managed to break the wedge in the one-hour time frame, and this is very good. The price can rise again to 71k dollars or even more with a little correction. Now we have to wait for the results of the US elections, which have a significant impact on this market.
In the current scenario, with the US elections being so close, there's a lot of uncertainty, which can lead to increased market volatility. Investors are closely watching the candidates' stances on key issues like trade policies, taxes, and regulation, as these will have significant implications for various sectors.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
BTC - Market Structure 101!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
The BTC market structure has been very clean lately, which I find interesting.
📉Previously, after breaking below the last major lows (marked in red), BTC dipped.
📈Similarly, after breaking above the last major highs (marked in blue), BTC surged.
🔄If history repeats itself, and the current last major low marked in red is broken to the downside, we can expect another dip in BTC towards the $69,000 - $70,000 demand zone.
Meanwhile, as long as the current minor low in red holds, BTC would be overall bullish short-term and further upside is expected.
🕝What do you think?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin have to Dump according to previous chart data
based on previous chart data
RSI divergence tell us BTC now looking for dump.
last time BTC retrace to 70% and now it again retrace 70% mention as buying zones.
Also see the second scenario......
BTC BEAR CASE📉 BTC/USDT Long-Term Analysis - Bearish Scenario 📉
If BTC loses the $66.7K level, this would serve as a strong bearish confirmation, indicating that the fifth wave is complete. In this case, I would expect a deeper correction with a target zone between $40K and $37K. This correction could last between 6 months to 1.5 years, suggesting a potential long-term trend shift.
So Confirmation: sub 66.7k
TP: 40k - 37k
Invalidation: after incoming correction if hold 0.5-0.7fib level ( 72-71k till 70.8-69.k) and bounce and make ATH. That will be invalidation for this case.
Disclaimer:
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
$NOT breaking out.GETTEX:NOT coin breaking out, projecting aproximatelly 250% gains.
If buying spot, I wouldn't sell more than 30% at projected price.
It looks like it will go a lot more than projected, also people starting to talk about it, youtubers doing TA on it, GETTEX:NOT can breakout anytime.
Bitcoin: Bullish Continuation Within Ascending Channelhello guys.
The BTC/USDT 4-hour chart indicates a strong bullish trend, with Bitcoin trading within an established ascending channel. The price has been respecting both the upper and lower trendlines, creating potential upward scenarios. Here’s an in-depth technical analysis:
Ascending Channel: Bitcoin is steadily moving within an ascending channel, with higher highs and higher lows. This suggests a continuation of bullish momentum unless there is a decisive breakdown.
Potential Scenarios:
Scenario 1: The price could continue rising within the channel, reaching the next resistance levels around $76,000 and potentially $79,978.02, as shown on the chart.
Scenario 2: A pullback to the channel's midline or lower support could occur before the next leg up, providing potential entry points for buyers.
Fibonacci Levels: The price has respected key Fibonacci retracement levels, indicating areas of interest for potential support and resistance.
Key Levels:
Support: Around $72,000, which aligns with the mid-channel zone.
Resistance: Immediate resistance around $76,000, with an extended target near $79,978.02.
Crypto Stonks Are Booming! Top Crypto Stocks to Watch NowFrom Memecoins to Mega Stocks
While crypto traders have been focused on finding the next big memecoins like Doge , crypto-related stocks have also been performing well this year. In today’s analysis, we’ll dive into some crypto related stocks you might want to keep an eye on
1. Coinbase ( NASDAQ:COIN )
First on our list is Coinbase, the top US crypto exchange with a market cap of $48 billion. Since its IPO in April 2021, Coinbase has gained a reputation as a trusted exchange known for its regulatory compliance.
Besides its exchange services, Coinbase offers a self custody wallet popular among the crypto community, with over 10 million downloads. In February 2023, Coinbase launched its own layer 2 blockchain, Base , which has since recorded over $1 billion in total value locked and averages daily transaction volumes of over $400 million.
Coinbase has also played a part in advancing spot Bitcoin ETF approvals, forming a surveillance-sharing agreement with the Chicago Board Options Exchange in July 2023. Additionally, Coinbase partnered with **Stripe** in June to boost the global adoption of USDC. This partnership enables crypto payouts and a fiat-to-crypto onramp, making it easier for users to buy crypto with credit cards and Apple Pay through Coinbase Wallet. Coin is up over 350% since our first signal
2. MicroStrategy ( NASDAQ:MSTR )
Next up is MicroStrategy, with a market cap of $26 billion. Known for its business analytics software, cloud services, and AI-powered analytics, MicroStrategy is more famous for its Bitcoin holdings, driven by the advocacy of Executive Chairman Michael Saylor.
Under Saylor's leadership, MicroStrategy became the first public company to adopt Bitcoin as a strategic investment in August 2020, citing its potential as a store of value. The company accumulated over 121,000 BTC by late 2021 and continued adding to its holdings, despite price volatility and leverage risks. As of 2024, MicroStrategy’s Bitcoin holdings have reached 226,500 BTC, and the company’s stock hit new all time highs, demonstrating its strong correlation with Bitcoin's performance. Mstr is 100% up since our first signal
3. Block ( NYSE:SQ )
Formerly known as Square, Block is a fintech company founded by Jack Dorsey and Jim McKelvey, with a market cap of $38 billion. Starting with small-business payment solutions like Square POS, Block launched **Cash App** in 2013 to provide a user-friendly platform for consumers, competing with services like PayPal and Venmo.
Cash App generates revenue through transaction fees, subscription payments, and Bitcoin sales. It even supports the Lightning Network for quick Bitcoin transactions. Beyond payments, Block owns a majority stake in Tidal, a music streaming service, showing its diverse portfolio.
4. Robinhood ( NASDAQ:HOOD )
Lastly, we have Robinhood, with a market cap of over $15 billion. Founded in 2013 by Stanford graduates Vladimir Tenev and Baiju Bhatt, Robinhood became known for its free, user-friendly trading app, which gained significant popularity during the COVID19 pandemic
Robinhood found itself in the spotlight during the 2021 GameStop and WallStreetBets saga, where it faced backlash for restricting trades on memestocks like $GME. This led to a lawsuit and a $70 million penalty from FINRA for misleading customers and service outages. Despite this, Robinhood continues to grow, boasting 23.9 million funded accounts and nearly $130 billion in assets under custody as of May 2024.
Robinhood has made some notable moves recently, including acquiring Pluto Capital, which provides AI-driven investment advice, and securing a deal to acquire crypto exchange Bitstamp.
Wrap up
If you’re wondering about Bitcoin mining stocks, don’t worry we had a separate analysis just for that. Crypto Bull market just started and be ready for more analysis
which stock or crypto coins you are bullish now and why?
BTC FOMC updateHi,
Here I explain what to expect and how to trade with the #FOMC meeting. Of course, the defined plan will be made 10 or 15 minutes before the meeting starts...
Good luck!
What you need to start a new trade
Hello, traders.
If you "Follow", you can always get new information quickly.
Please click "Boost" as well.
Have a nice day today.
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(BTCUSDT 1D chart)
For those who bought below 70148.34, it would be good to set the 72344.74 point as the stop loss point and respond.
If the rise continues,
1st: Left Fibonacci ratio 1.618 (76787.43)
2nd: Left Fibonacci ratio 2 (80999.68)
3rd: Left 2.618 (87814.27) ~ Right 1.618 (89050.0)
You can respond depending on whether there is support in the area above.
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In order to proceed with a new transaction, it is recommended to check the position of the StochRSI indicator when a new candle is created.
This is because you can focus on finding a time to buy when the StochRSI indicator is below 50, but you should focus on finding a time to sell when it is above 50.
Based on the current price increase, it is expected that it will not be easy to proceed with a purchase because the StochRSI indicator is expected to rise above 50.
Accordingly, I think you should conduct the transaction from a short-term trading (day trading) perspective.
The difference between day trading and short-term trading depends on the response method.
In other words, day trading means conducting transactions within a period that does not exceed the day if possible.
If you want to exceed the day, you must secure a certain amount of profit through partial sales, and you must set a reservation sale at the stop loss point.
(1h chart)
To conduct day trading, check the movement of the 1h chart.
(You can use the time frame chart that you usually see and trade.)
Since the BW(100) and HA-High indicators are created, it means that a high point has been formed, so when it is first created, the price is likely to fall from that point.
Therefore, you can conduct a transaction when the price rises after falling and shows support.
If it rises after falling and shows resistance in the BW(100) and HA-High indicators, you should judge that it is likely to fall.
At this time, it is a good idea to check the movement of the StochRSI indicator.
The BW(100) line has been created, and the StochRSI indicator is showing signs of turning from an overbought zone to a decline.
Accordingly, even if the price rises, it can be interpreted that there is a high possibility that it will face resistance near BW(100) and fall.
Although there is a possibility that it will occasionally lead to a sharp rise, I think it is better to interpret it in a direction with a higher probability and respond accordingly.
Therefore, it is currently a time when it is burdensome to proceed with a purchase.
-
Since the reporting high (ATH) has been updated, support and resistance points can be displayed on the 1M, 1W, and 1D charts.
Therefore, it is not easy to select a point to use as a reference point when trading.
However, as I have mentioned before, you should select the 5EMA of the 1D chart and the M-Signal indicator of the 1D, 1W, 1M charts and the BW(0), BW(100), HA-Low, HA-High indicators as support and resistance points and decide the trading time based on whether there is support.
As I mentioned earlier, you should respond based on where the StochRSI indicator of the 1D chart is located based on the 50 point, so you should select the position to start trading on the 1h chart accordingly.
Since you start trading only with a buy in spot trading, you should think about it and trade accordingly.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will start when it rises above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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Back to 78.6K targetMorning guys,
So, BTC was able to hold ~68K lows, keeping short-term bullish context intact. Now market is overbought, so, in short-term we could get minor drop back to Fib support level - 72.8K and 70.5K, where upside action potentially could be re-established.
The upside target remains the same - daily AB-CD @ 78.6K level.
BTC Weekly Chart is Showing Major StrengthThe last weekly close and open for BTC have broken the overall weekly structure of consolidation. A weekly close above the support would confirm this. Things are looking good for BTC in the bigger picture. Hold on to your hats, we have a year of volatility coming to us.
Not financial advice.
Do your own DD.
Thanks for looking at the idea.
BTC - 4H fall for nowWhen it comes to market sentiment, a popular saying is, “When everyone is on the same side, it’s time to go the other way.” This concept aligns with the contrarian trading strategy, where savvy traders often position themselves in the opposite direction of the majority. Currently, with widespread excitement and optimism about a potential BTC bull run, it’s possible that we’re setting up for a correction rather than a sustained rally.
Historically, markets tend to pull back when optimism reaches a peak. For example, in 2017, as BINANCE:BTCUSD neared $20,000, the market sentiment was overwhelmingly bullish, yet that’s when BTC took a sharp downturn. Similarly, in early 2021, when Bitcoin was approaching $64,000 with much hype around institutional buying, we saw a significant correction that shook many investors.
In this context, the chart here shows MARKETSCOM:BITCOIN touching a strong resistance zone around the $76,000 level. With sentiment bullish and many expecting a breakout, BINANCE:BTCUSDT may likely trap some of this optimism and head lower first to “clear out” the overly crowded long positions. This potential pullback could lead to a more sustainable rally later after the excess sentiment has cooled.
