$BTC
Analysis: Breaking the Falling Wedge!
Pattern Alert:
Bitcoin is currently breaking out from the falling wedge pattern on the 8-hour timeframe, signaling a potential bullish shift in momentum. This breakout could trigger significant upward movement.
Price Targets:
Target 1: $100,000 — The first major resistance level, where profit-taking could occur.
Target 2: $105,000 — If momentum continues, this level could serve as a psychological resistance and breakout point.
Market Sentiment:
The breakout suggests growing buying interest, and a sustained move above the wedge could open doors for new highs.
Watch for any retests of the breakout zone for potential entry points.
Trading Strategy:
For Buyers: Look for pullbacks near $95,000 for safer entry points or confirmations of trend continuation.
For Sellers: Consider waiting for a test of resistance before any short positions.
Bitcoin is primed for potential fireworks—be ready for the next big move!