$BTC n on the quarter-hour frame tried twice to break 91800.

If it succeeds in breaking through, you can take it long and it will fly to the next resistance 93,300 as the first target. If it breaks through the mentioned number, I expect we will see a party like the past days and the targets will be completed in yellow.
We will wait and see 🤌.
#btc70k #BuyTheDip

Bitcoin (BTC) recently soared to an all-time high (ATH) of $93,207 before experiencing a slight pullback, stabilizing around $87,000. Meanwhile, the current surge can be attributed to two major factors. First, the recent U.S. presidential election result, which saw Republican candidate Donald Trump secure victory, has brought optimism to the market. 

Additionally, the Federal Reserve’s decision to cut interest rates by 25 basis points to a range of 4.50% to 4.75% has created a more supportive environment for alternative assets like Bitcoin, drawing even more investors into the market.

Game Plan for Bitcoin

Analysts have outlined two possible scenarios for Bitcoin’s price action moving forward.
Plan A suggests that Bitcoin could continue its rally, climbing another 10% to 20%, reaching somewhere between $104,000 and $118,000. However, this rise would likely be followed by a correction of 20% to 30%, which would bring Bitcoin back down to a more stable level.

Plan B suggests that Bitcoin might stabilize around its current levels, with a smaller rise toward recent highs before potentially facing a 20%-30% correction. Analysts say that if this correction happens, BTC’s price could drop to around $69,000–$79,000.

This might worry some traders, partly due to Bitcoin’s overbought daily relative strength index (RSI) readings. When the RSI goes above 70, it indicates strong buying momentum that may soon run out. 
#BuyTheDip #btc70k

As Bitcoin price approaches a psychological resistance level around $93k, on-chain data shows whale investors have accelerated profit taking. For instance, the US spot Bitcoin ETFs witnessed the third highest cash outflows since inception of about $400 million.

The Bhutan government moved 367 Bitcoins of its 12,206 BTC trove to Binance, thus increasing the chances of more sell-offs. Bitcoin miners have now transferred over 45k BTCs to exchanges in the past three days.

#BTC #btc70k #BuytheDips #BuyTheDip

The post Bitcoin’s Next Game Plan: Will It Skyrocket to $118K or Face a Major Drop?

Bitcoin, the world’s leading cryptocurrency, has surged over 100% since the start of 2024, with most of those gains coming in the past few months, bringing its market capitalization to $1.83 trillion. But what’s next for Bitcoin? Analysts have laid out an important game plan, suggesting that Bitcoin could either soar to $118,000 or face a sharp correction of 20%-30% soon.

#BuyTheDip #btc70k

Pennsylvania has enacted laws to protect the right to Bitcoin and is considering investing in it as a long-term asset. 😲👊⚡🇺🇸
#bullrun2024📈📈 #BuyTheDip #btc70k #trump