BTC
The price is approaching the 100k resistance zone, which aligns with a critical trendline from the upper boundary of the channel.
Resistance Zone:
The green zone highlights the resistance area, where the price historically struggles to break above due to selling pressure.
If Bitcoin surpasses this level, it could signal a new bullish breakout toward higher targets.
Potential Scenarios:
A rejection at $96,000 might lead to a pullback, testing lower support levels within the trend.
A breakout above $96,000 could signal the start of a new parabolic rally, possibly targeting the next red line (above $130,000).
Historical Context:
The chart suggests Bitcoin tends to respect these long-term trendlines, with price consolidations and rallies within the channels.
Safe All!
Stone.
Resistance Zone:
The green zone highlights the resistance area, where the price historically struggles to break above due to selling pressure.
If Bitcoin surpasses this level, it could signal a new bullish breakout toward higher targets.
Potential Scenarios:
A rejection at $96,000 might lead to a pullback, testing lower support levels within the trend.
A breakout above $96,000 could signal the start of a new parabolic rally, possibly targeting the next red line (above $130,000).
Historical Context:
The chart suggests Bitcoin tends to respect these long-term trendlines, with price consolidations and rallies within the channels.
Safe All!
Stone.
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