Hey Square Fam! 🤗 Bitcoin just smashed above its prior peak, entering fresh price territory. This is huge—let's unpack the move, the key levels, and what it could mean for traders and holders alike. 📊
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📈 What Just Happened?
New Records Rolled In: BTC surged past $112K–113K, marking its first fresh all-time high since May and continuing today’s breakout momentum .
Stronger Than Before: After breaking the descending channel, Bitcoin now trades above $116K, riding on solid momentum .
Institutional Flow: ETF inflows are robust, Bitcoin treasury accumulations rising, and on-chain data shows low exchange inflows—signaling potential supply squeeze .
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🎯 Key Technical Levels
1. Resistance Ahead:
$120K—target zone from Fibonacci extensions (127–138%)
$135K–$150K—based on higher extensions and cycle targets
2. Support to Watch:
$107K–$110K—50-day MA and base of prior channel
$100K—longer-term psychological/floor level
3. Momentum Check:
RSI remains bullish but nearing overbought; Bollinger Bands tightening → implies possible acceleration
Volume trends: Exchange trading is muted, but ETF inflows are running hot—classic institutional accumulation
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👀 What to Expect Next
🔼 Bullish Case
Short-Term: Watch if BTC holds above $113K–116K. A sustained close could trigger a rally to $120K, and possibly $135K–150K in coming weeks .
Mid-Term: Institutional demand remains strong, macro trends supportive (Fed hints, dollar weakness, policy tailwinds). Big players like MicroStrategy & Trump public companies fueling momentum .
🔽 Bearish/Neutral Scenario
Pullback Cue: If BTC reverses below $113K–110K, a pullback to $107K or $100K could emerge—great buy zones if trend remains intact .
Volume Warning: Without volume, breakouts may exhaust. Keep an eye on RSI and Bollinger Bands—signs of exhaustion signal caution .
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🧠 Square Strategy Guide
Strategy Type Entry Signal Target Zone Stop-Loss Level
Breakout Long Close above 116K on volume spike 120K → 135–150K Below 113K
Dip Buy Bounce at 110–113K support 116K → 120K Below 109K
Tactical Short Rejection at 120K on high RSI/volume Pullback to 116K Above 120.5K
Risk tip: Use tight stops; scale in on strong candles & momentum.
Macro Toolbox: Track macro headlines—Fed commentary, ETF flows, corporate BTC acquisitions can shift dynamics rapidly.
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🧭 Final Take
📌 Key takeaway: BTC’s breakout above $112K–116K is real, powered by institutional flows and promising technical setup. Upside looks open toward $120K–150K, but watch volume & sentiment closely—if $110K–113K holds, trend remains strong; else be prepared for pullbacks.
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So, Square Fam, Bitcoin's chart is lighting up with potential. Whether you're riding the momentum or waiting for retracements, this is the time to stay sharp, bold, and smart. 🔥