After a sharp market shake-up, Bitcoin has staged an impressive comeback! The "sell-the-news" drop following the US President's crypto reserve order sent BTC plunging from $91K to $84K—but the bulls refused to back down. Now, Bitcoin is trading around $89K, eyeing a major triangle breakout that could send prices soaring past $100K!
Bitcoin’s Triangle Breakout Setup
The 4-hour chart reveals a long-standing resistance pattern, with multiple peaks limiting upward momentum. However, BTC's rebound from $78K has formed a higher low, completing a symmetrical triangle—a classic bullish setup!
✅ Key Bullish Signals:
MACD Bullish Divergence: Signals strong momentum shift.
Double-Bottom Formation: Confirmed at $86,700 support—a crucial reversal zone.
Pivot Levels: BTC is battling resistance at $89,654. A breakout could launch it to $101,111!
📉 Downside Risks: Support levels stand at $86,700, followed by a deeper safety net at $82,816.
Bitcoin ETFs: Mixed Sentiment Amid Market Volatility
Despite BTC’s rally, US Bitcoin Spot ETFs have recorded net outflows for four consecutive days. On Feb 6, outflows hit $134.26M, with:
BlackRock losing $15M
Grayscale seeing $34.51M in outflows
Since Feb 6, BTC ETFs have recorded only three positive inflow days, reflecting ongoing market uncertainty.
Will BTC Breakout to $100K?
Bitcoin's triangle breakout rally holds the key! A strong push above $89,654 could be the spark BTC needs to break into six-figure territory.
🚀 Are you ready for the next BTC surge? Stay sharp, stay bullish!
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