Pampa1
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🚀 Bitcoin Bulls Eye $117K–$120K: Is This the Next Explosive Breakout? 💎⬆️
$BTC
Hello Binance Square fam! Let’s dive into the exciting BTC world, break down the charts, and explore why bulls are charging toward $117K–$120K! 🔍
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🔥 Bullish Pulse: On‑Chain & Technical Signals Align
1. On‑chain breakout threshold at ~$117,113
Glassnode's Short‑Term Holder Cost Basis marks a key resistance zone around $117K. A daily close above this edge typically fuels bullish momentum—similar signals appeared when BTC hit $112K back in May .
2. Triangle & Elliott Wave patterns targeting $116K–$120K
Analyst Lark Davis spotted a triangle breakout pointing to a 9.8% rally leading to ~$120K .
Garrett Patten’s Elliott Wave analysis sees BTC holding above a key zone ($107K–$108K), projecting a move to around $116.4K in wave 3 .
3. **Cup‑and‑Handle formation aiming for $169K?**
A TradingView pattern recently formed a bullish Cup‑and‑Handle—MACD flipped positive, BTC reclaimed key moving averages, and a full breakout could reach an eye‑popping $169K .
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🎯 Short‑Term Key Levels to Watch
**$110K–$112K**: Breaking this zone is critical. It’s the neckline from multiple bullish formations and must hold as confirmed support .
**$117K**: Conquering the STH cost basis brings psychological and technical confirmation.
**$120K+**: A sustained move past here would validate current triangle and Elliott Wave patterns.
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✅ Why It Matters
Trader psychology flips: Staying above short‑term holder cost basis keeps newer participants optimistically positioned .
Momentum buildup: Confluence of bullish flags, MACD support, wave structure—all pushing gains higher.
Potential Altcoin boom: A BTC rally often lifts the wider crypto market—including BNB, eth‑based DeFi, NFTs, and meme‑coins!
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🛡️ Risk Management Tips
Keep an eye on the $110K–$112K zone: A daily close below might invalidate bullish setups.
Use stop‑loss orders: Consider placing stops below key support to protect gains.
Check your allocation: Avoid overexposure—BTC is volatile, so size your trades responsibly.
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✨ Final Take
Bitcoin is setting up 🚧 for a potential explosive breakout toward $117K–$120K, with a longer-term path reaching $169K if the bullish momentum holds. But smart traders always respect the downside risk—keep tabs on support zones and price action.
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📋 Action Plan for Binance Square Readers
🧭 Task 📌 Reason
Watch BTC/USD on Binance Real-time updates, vital chart levels
Post your take Tag it #BTC #Crypto #PriceAnalysis — spark a discussion!
Engage respectfully Share insights, ask questions, support others
Share this post? Let's grow the Binance Square community 🌱
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✔️ Adhering to Binance Square Guidelines
On‑topic & informative: Focused purely on BTC technicals 📈.
Unbiased & respectful: Shared data from Glassnode, TradingView, no hype.
No financial advice language: Presented educationally, without telling readers what to do.
No manipulative behavior: Encourages discussion—not trading signals.
Original content: Fresh analysis with multiple data sources—no copy-paste borrowings.
No personal or contact solicitation: Keeps privacy and platform integrity intact.
---
Thanks for reading! If you find this helpful, drop a 👍, leave your thoughts, or tag a friend who’s watching BTC with you! Let’s build a vibrant, smart, and supportive community here on Binance Square. 💬👏
*(Disclaimer: This is for educational discussion only—never a substitute for personal research!)*
Hello Binance Square fam! Let’s dive into the exciting BTC world, break down the charts, and explore why bulls are charging toward $117K–$120K! 🔍
---
🔥 Bullish Pulse: On‑Chain & Technical Signals Align
1. On‑chain breakout threshold at ~$117,113
Glassnode's Short‑Term Holder Cost Basis marks a key resistance zone around $117K. A daily close above this edge typically fuels bullish momentum—similar signals appeared when BTC hit $112K back in May .
2. Triangle & Elliott Wave patterns targeting $116K–$120K
Analyst Lark Davis spotted a triangle breakout pointing to a 9.8% rally leading to ~$120K .
Garrett Patten’s Elliott Wave analysis sees BTC holding above a key zone ($107K–$108K), projecting a move to around $116.4K in wave 3 .
3. **Cup‑and‑Handle formation aiming for $169K?**
A TradingView pattern recently formed a bullish Cup‑and‑Handle—MACD flipped positive, BTC reclaimed key moving averages, and a full breakout could reach an eye‑popping $169K .
---
🎯 Short‑Term Key Levels to Watch
**$110K–$112K**: Breaking this zone is critical. It’s the neckline from multiple bullish formations and must hold as confirmed support .
**$117K**: Conquering the STH cost basis brings psychological and technical confirmation.
**$120K+**: A sustained move past here would validate current triangle and Elliott Wave patterns.
---
✅ Why It Matters
Trader psychology flips: Staying above short‑term holder cost basis keeps newer participants optimistically positioned .
Momentum buildup: Confluence of bullish flags, MACD support, wave structure—all pushing gains higher.
Potential Altcoin boom: A BTC rally often lifts the wider crypto market—including BNB, eth‑based DeFi, NFTs, and meme‑coins!
---
🛡️ Risk Management Tips
Keep an eye on the $110K–$112K zone: A daily close below might invalidate bullish setups.
Use stop‑loss orders: Consider placing stops below key support to protect gains.
Check your allocation: Avoid overexposure—BTC is volatile, so size your trades responsibly.
---
✨ Final Take
Bitcoin is setting up 🚧 for a potential explosive breakout toward $117K–$120K, with a longer-term path reaching $169K if the bullish momentum holds. But smart traders always respect the downside risk—keep tabs on support zones and price action.
---
📋 Action Plan for Binance Square Readers
🧭 Task 📌 Reason
Watch BTC/USD on Binance Real-time updates, vital chart levels
Post your take Tag it #BTC #Crypto #PriceAnalysis — spark a discussion!
Engage respectfully Share insights, ask questions, support others
Share this post? Let's grow the Binance Square community 🌱
---
✔️ Adhering to Binance Square Guidelines
On‑topic & informative: Focused purely on BTC technicals 📈.
Unbiased & respectful: Shared data from Glassnode, TradingView, no hype.
No financial advice language: Presented educationally, without telling readers what to do.
No manipulative behavior: Encourages discussion—not trading signals.
Original content: Fresh analysis with multiple data sources—no copy-paste borrowings.
No personal or contact solicitation: Keeps privacy and platform integrity intact.
---
Thanks for reading! If you find this helpful, drop a 👍, leave your thoughts, or tag a friend who’s watching BTC with you! Let’s build a vibrant, smart, and supportive community here on Binance Square. 💬👏
*(Disclaimer: This is for educational discussion only—never a substitute for personal research!)*
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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