Bitcoin's Path to $109K: Key Levels to Monitor
Hi everyone,
Here’s an updated analysis of Bitcoin ($BTC), presenting two possible scenarios: Plan A and a contingency Plan B if key support levels are breached.
Current Price and Performance
Bitcoin Price: $93,403.38 (+0.17%)
Plan A: The Bullish Path to $107K–$109K
Bitcoin could be forming an ascending broadening wedge, targeting the $107K–$109K zone. For this scenario to play out:
Bitcoin must hold above the $86K critical support level.
The higher high (HH) and higher low (HL) structure in a zig-zag price pattern supports this bullish outlook.
Key Point: Any sustained drop below $86K would invalidate this plan.
Plan B: Breakdown Contingency
If Bitcoin fails to maintain the $86K support, a downward breakdown is likely, which could shift the market’s trajectory significantly. Traders should be prepared for heightened volatility in this scenario.
What’s Your Take?
Share your thoughts on this analysis and let’s discuss whether the bullish momentum can hold or if a correction is looming.
Trade at your own risk and stay informed!
Best regards,
Trade Cryptocurrency
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