Bitcoin 🌊 Breaks Out 💥📈: What’s Next as It Tests Key Resistance 📉 Levels?✍️ $BTC
1. Bitcoin has finally broken out above the $64,600 📈 mark, a significant level that served as the high on Monday. Since then, this price point has been back-tested, showing strong support 👈 with positive market reactions.✅
2. Early this morning, we witnessed Bitcoin sweeping past $66,000🚨, but it faces a crucial hurdle at the 🟢$65,600 level🟢—previously last month's high and now a 4-hour resistance point. Should Bitcoin start gaining acceptance above this level, a swift move toward $68,000 ✅seems increasingly likely.💥
3. This breakout coincides with a critical end-of-month and quarter event, setting the stage for potential volatility 📈 📉 in spot markets, which have experienced strong momentum this week. Market sentiment remains notably bullish, with a put/call ratio of 0.64 indicating a lean towards calls. ✅
4. The current max pain level is positioned at 🔴$59,000🔴, slightly below the ongoing price action.Open interest remains robust, especially at strike prices of 💥$70,000, $90,000💥, and even $100,000 🚀. As we transition into Q4, optimism is palpable, driven by recent market confidence and a generally positive outlook. ✅
5. All eyes are now on Bitcoin’s next move as traders and investors brace for potential upward momentum.👍
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