Bitcoin just broke new groundāletās explore why the chart looks strong, whatās fueling the bullish move, and how to trade it, Square-style: clear, friendly, and structured. š
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š Whatās Happening with BTC?
BTC recently surged past $118Kā$119K, setting fresh all-time highs this week .
Key cup-and-handle and bull flag chart patterns are formingāclassic bullish signals pointing to continued upside .
Technicals (MACD, RSI) are trending up, supported by rising Bitcoin spot ETF flows and institutional interest .
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š Key Price Levels to Watch
Support: ~$108.3K (old resistance now acting as cushion)
Also psychological support near $112Kā$113K .
Resistance: Near-term ceiling at $120K, followed by a possible rise to $134Kā$146K .
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š§© Whatās Fueling This Move?
1. ETF Inflows: Spot Bitcoin ETF demand remains strongābroad market inflows pushing prices higher .
2. Macro Boost: High equities sentiment + expectations of Fed rate cuts are feeding crypto rallies .
3. On-Chain Strength: Accumulation by long-term holders and high network usage underline confidence .
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š” Trade Plans ā Square Family Style
š Breakout Play
Entry: Close above $120K with volume surge.
Targets:
TP1: $134K ā measured bull flag move
TP2: $146K ā bull flag extended goal
Stop-Loss: Just below $113Kā$115K (old resistance turned support).
ā³ Bounce Setup
Entry: On dip into $112Kā$113K support with bullish confirmation candle.
Targets & SL: Same as breakout plan.
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ā ļø Risks to Watch
A failure below $112Kā$113K could trigger a drop toward $108K, or even the $105Kā$100K zone .
A lack of volume confirmation might lead to a range-bound trade between $112Kā$120K .
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š Trade Summary
Strategy Entry Condition Targets Stop-Loss
Breakout > $120K w/ rising volume $134K ā $146K $113Kā$115K
Bounce Entry Dip to $112Kā$113K bounce Same as above < $112K
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āØ Final Thought
Bitcoin is firing on all cylinders: strong chart patterns, macro tailwinds, ETF inflows, and on-chain accumulation. A clean breakout above $120K could unlock a run toward $146K+, but even a bounce play offers structured upside. Square Fam, are you ready to ride? Letās share setups and build a sentiment poll together! š¤
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