Bitcoin surpasses the $109K mark, confirming a bullish breakout and establishing a new all-time high in the ongoing uptrend.
The market targets $150K as the next resistance, with current momentum driven by strong support at Alpha 2 and consistent demand.
Technical indicators suggest short-term pauses, but the broader trend remains strong if Bitcoin continues to hold above the $109K level.
Bitcoin has reached a new all-time high after breaking through the $109,000 mark, reinforcing bullish sentiment in the market. Traders are closely watching whether this breakout level will hold as the next major milestone approaches.
Breakout at Alpha 2 Signals Bullish Continuation
According to a tweet from FundingVest, Bitcoin has surpassed Alpha 2 at $109,000, setting a new all-time high. This breakout suggests continued strength in the current uptrend. Holding above this level could sustain momentum toward the next key resistance.
Market watchers are focusing on the $109K mark as a critical support zone. If Bitcoin holds this area, it confirms strong bullish conviction. On the other hand, any sustained weakness below this level may lead to a corrective move.
With Alpha 2 now acting as a potential support, the path toward Alpha 3 at $150,000 becomes the next target. Traders are monitoring this development to determine whether the rally can maintain its pace or if a pause may occur.
$150K Target in Sight as Market Maintains Upward Pressure
The tweet also highlights Alpha 3 at $150,000 as the next major resistance. If Bitcoin maintains its current trajectory, this level could be tested in the near term. Sustained buying interest and strong support at $109K are key factors in this potential move.
Oscillators, however, indicate overbought conditions. This technical reading could mean a short-term consolidation or pause before further advances. Nonetheless, the overall trend remains intact, provided $109K is not breached decisively.
Market participants are advised to track price action near the current level. Any strong reaction or retest around $109K will help assess the strength of the trend and potential for a push toward $150K.
Downside Risk Remains if Support Breaks
While the breakout above Alpha 2 is encouraging for bulls, FundingVest warns of a potential retracement. If the $109,000 level fails to hold, Bitcoin could drop toward $91,000, the previously established Alpha 3 support.
This downside scenario does not negate the broader trend but introduces short-term risk. Market sentiment may shift temporarily if this key level is lost, prompting cautious moves from investors.
Maintaining the support at Alpha 2 keeps Bitcoin’s bullish trajectory intact. Traders are keeping close watch on both the $109K and $91K levels to guide their next decisions.
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