🚀 Bitcoin Breakout Alert: Eyes on $100K Next!
Brief Analysis (English):
Candle Pattern: A bullish engulfing pattern has formed on the 4-hour timeframe, indicating strong buying pressure after a minor retracement.
Historical Levels:
Nearest Low: ~$94,800 (24-hour support level)
Mid Range: ~$92,800 (consolidation area from late April)
Previous High: ~$97,424 (key resistance)
Technical:
MA(7) crosses above MA(25) → bullish continuation signal.
Volume uptick during the breakout confirms validity.
Positive MACD with an expanding histogram → upward momentum maintained.
Fundamentals & Market Logic:
Institutional adoption is increasing, positive macro sentiment (crypto regulation winds are becoming friendlier).
Rotation of fund allocation from stocks → crypto as an inflation hedge.
Additional Indicators:
RSI nearing 65, still limited “overbought” space.
Bollinger Bands expanding → increasing volatility, continuation breakout opportunities.
Conclusion: BTC has the potential to break through resistance at $97.4K–$100K if the support level at $94.8K holds. Set a stop-loss below $92.8K to manage risk.
Good luck trading! 🚀