Bitcoin Fires Up: Bullish Breakout Sets Sights on $124K
$BTC
Bitcoin (BTC) has roared out of its descending channel, delivering a classic breakout that’s electrified traders worldwide[1]. Price action has flipped decisively bullish: a powerful engulfing candle off robust support between $113,600–$115,000 signals renewed upward momentum.
Key moving averages—the EMA 70 (~$115,080) and EMA 200 (~$116,182)—are converging, and if BTC holds above the EMA 200, it’s game on for bulls. The resistance zone around $116,000, which previously repelled the rally, is now the stage for imminent accumulation and a potential launch.
If buyers successfully break and sustain above resistance, targets point to the next major zone at $124,449–$124,484. This setup offers a hot trading play: consider entry between $115,260–$115,600 post-confirmation, with risk managed below the key $113,600 support.
Keep vigil—BTC is signaling a new bullish phase. The next move could send shockwaves to $124K, fueling excitement in the crypto arena[1].
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