Bitcoin May Continue Rising After Breakout

6 天前

📊 Market Overview:
• Bitcoin recently broke above $118,000, reaching a weekly high of $118,740, fueled by expectations of a Fed rate cut in September and strong ETF inflows into the market
• Katie Stockton from Fairlead Strategies highlights a bullish cup-and-handle pattern, supporting a potential 14% upside toward $134,500

📉 Technical Analysis:
• Key Resistance: $120,000 – $128,500 (based on Fibonacci projection).
• Nearest Support: ~$108,300 – previous resistance turned support, along with ~$107,000 near the 50-day EMA.
• EMA 09: Price is trading above the 9-day EMA, indicating a short-term bullish trend.
• Patterns & Volume:
o A cup-and-handle breakout suggests continued upside potential.
o Rising volume on breakouts reflects strong buying interest.
o MACD is bullish, and RSI is not yet overbought — allowing further room to rise.

📌 Outlook:
Bitcoin may continue to rise in the short term if it holds above the 9-day EMA and avoids a sharp drop below the $108k–110k support zone. A break below this area could trigger a deeper correction toward $100k.

5 天前

交易進行

Bitcoin is currently at a historic high above $121K — fueled by strong macroeconomic momentum, institutional ETF inflows, and positive regulatory expectations. However, technical indicators suggest a potential short-term correction.