Bitcoin Breaks or Fakes? Eyeing the $79K Target!
🚀💥 Bitcoin Breaks or Fakes? Eyeing the 79K Target! 💡💰
Hey everyone, it's been a while! If you've missed my voice, let's dive right back into it and see what Bitcoin has been cooking up. The BTC price has been flirting with the $66,320 level, hitting it for the sixth time now, as seen on the descending channel. Historically, the third and sixth attempts have shown the highest chances of a breakout, so is this the moment we’ve been waiting for?
If Bitcoin does break out this time, we could be looking at a potential rise to $79,000. While there are some mild resistances around 69K, 70K, and 71K, the major target remains 79K.
The exchange reserve data shows a significant drop, indicating fewer people are moving Bitcoin to exchanges to sell—an encouraging sign that could be pointing toward a potential rally to new highs.
Zooming into the 15-minute chart, we’ve seen two rejections after hitting resistance. However, the third attempt, if successful, could trigger the next leg up. On the downside, we have solid support at $65,322 that has been tested, and buyers seem ready to jump back in below the 60K mark.
I’m bullish on Bitcoin and keeping an eye on this breakout. If it happens today, we could be well on our way to $79,000.
Let me know your thoughts in the comments below! I’ll keep you posted on the latest developments.
One Love,
The FXPROFESSOR 💙
Hey everyone, it's been a while! If you've missed my voice, let's dive right back into it and see what Bitcoin has been cooking up. The BTC price has been flirting with the $66,320 level, hitting it for the sixth time now, as seen on the descending channel. Historically, the third and sixth attempts have shown the highest chances of a breakout, so is this the moment we’ve been waiting for?
If Bitcoin does break out this time, we could be looking at a potential rise to $79,000. While there are some mild resistances around 69K, 70K, and 71K, the major target remains 79K.
The exchange reserve data shows a significant drop, indicating fewer people are moving Bitcoin to exchanges to sell—an encouraging sign that could be pointing toward a potential rally to new highs.
Zooming into the 15-minute chart, we’ve seen two rejections after hitting resistance. However, the third attempt, if successful, could trigger the next leg up. On the downside, we have solid support at $65,322 that has been tested, and buyers seem ready to jump back in below the 60K mark.
I’m bullish on Bitcoin and keeping an eye on this breakout. If it happens today, we could be well on our way to $79,000.
Let me know your thoughts in the comments below! I’ll keep you posted on the latest developments.
One Love,
The FXPROFESSOR 💙
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