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#BTCBreaksATH110K BTCUSDT - Can Bitcoin push past 109k in this rising channel? Bitcoin has been trading within a clearly defined upward channel since the beginning of April. $BTC BTC 111,721.01 +1.62% This rising channel is characterized by three touchpoints on both the upper and lower trendlines, indicating a consistent pattern of price movement within these boundaries. Approaching key resistance: Currently, BTC is approaching a critical resistance level near the 109,000 mark, which coincides with its previous all-time high. This level represents a significant psychological and technical barrier, as it was the peak of the last major bull cycle. The price is now testing this resistance while still remaining within the rising channel. The confluence of the upper channel resistance and the historical all-time high makes this a decisive moment for Bitcoin's price action. Bullish breakout: A rejection from this resistance zone could lead to a temporary pullback, potentially towards the lower boundary of the rising channel. This would not necessarily signal the end of the bullish trend, but rather a healthy consolidation within the established structure. However, a confirmed breakout above the 109,000 level, especially if supported by strong volume and bullish momentum, would likely signal a significant shift in market dynamics. Such a breakout would validate the strength of the current uptrend and could open the door for new all-time highs. In that scenario, the 109,000 level would likely flip from resistance to support, becoming a crucial area for bulls to defend on any future retests. Bearish breakout: On the downside, traders should also be aware of the implications of a breakdown below the rising channel. The lower boundary of the channel, currently located around 104,000, is an important technical level to watch. A decisive break below this level could indicate a loss of short-term bullish momentum and may trigger a deeper retracement. In such a case, BTC would likely target the imbalance zone between 97,500 and 100,500, a region where price moved rapidly
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#BTCBreaksATH BTCUSDT has sustained a well structured bullish formation since early 2024, consistently reacting to key trendline levels with precision. $BTC BTC 108,920.01 +1.86% The initial major impulse started from the 38,545 region, rallying towards the 73,660 high, where the market faced rejection and confirmed a critical resistance zone. Several retests followed within the upper structure, with each rejection forming part of a larger consolidation before a decisive breakout occurred. The most recent breakout above the 101K mark has confirmed renewed strength and continuation of the bullish cycle. We now expect a projected retest between the 106K–110K zone, which should serve as the springboard for the next impulsive move. If this retest holds, the setup remains valid, and the bullish leg is expected to extend towards the confluence resistance zone around 123,420, 136,000, and 149,450. This upper range is likely to act as the final target area for the current cycle before any significant macro correction sets in. The most strategic re-accumulation opportunity lies around the 100,000–101,000 region, which aligns with the anticipated retest zone and key structural support. A successful hold in this range could offer a high probability entry ahead of a strong continuation move. Trade at your own Risk 👍 Best Regards, Trade Cryptocurrency Stay Tuned for Further Updates.
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