✅ $BTC PRICE SURGE🎉🥵: WILL IT REACH $100,000 🔥OR CRASH? 😭
🔴In a shocking twist, Bitcoin's price has defied expectations and continued its recovery🔥 from $91,000.
🟪The question on everyone's mind:
🟩Will the bulls push the $BTC price past $100,000, or will it return✅ to the ascending trendline that stretches back to 2021?
🔵BITCOIN KEEPS THE MARKET GUESSING
As a trader, it's crucial to stay vigilant when it comes🔥 to Bitcoin. The cryptocurrency's unpredictable nature can teach you a lesson⚡ - or several.
🟪INSTEAD OF A DIP, A BREAKOUT
Rather than dipping below📉 the trendline, the $BTC price has respected it and broken out of its local 🔥downtrend. The short-term chart is showing structure above $91,000, with a range forming between this level⚡ and $100,000.
🔵CAN THE BULLS PUSH PAST $100,000?
If the bulls can force the price up 📈past the current resistance level, another attempt at $100,000🔥 is possible. The main takeaway is that the descending trendline has been broken, and a smaller higher high has been made.
🔵ZOOMING OUT: THE WEEKLY PRICE CHART
Looking at the weekly time frame, the bullish case for Bitcoin becomes✅ apparent. The breakout of the bull flag took the BITCOIN price well clear of the $69,000 🔥resistance, and the ascending trendline is providing rock-solid support.
🔴FIBONACCI LEVELS: A BULLISH SIGN
Drawing Fibonacci levels from the bull flag bottom to the all-time high📈, we can see that the first Fibonacci level at 0.236 is holding the price up. If this support continues✅, a shallow retracement would be extremely bullish going forward.
✅SHORT BITCOIN AT YOUR PERIL
🔵 Always do your own research and consider multiple sources before making investment decisions.
🟪What's your take on Bitcoin's price surge? Will it reach $100,000 or crash?