Bitcoin Breakout Update
Bitcoin has broken out of a key resistance zone, briefly touching nearly $97,900 before pulling back slightly to around $94,200. This move comes with strong bullish signals, including:
Institutional Momentum: MicroStrategy plans to raise $21B to buy more $BTC now holding over 553K coins.
Technical Breakout:
$BTC has moved out of a descending channel and bullish pennant pattern.
Market Sentiment: With ETF approvals and rising adoption, Bitcoin dominance has hit 64%—the highest since 2021.
Key support levels to watch:
$95K and the 20-day EMA (~$92K). Traders are cautious of seasonal patterns like "Sell in May," but long-term forecasts remain bullish. Standard Chartered even predicts BTC could reach $120K by Q2 2025.
Stay sharp, and watch for the next move!
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