đ„đ„đ„ #bitcoinprice target rises to $78K after Chinese stimulus package
Bitcoin Set for Breakout After Chinaâs $140 Billion Stimulus
- Bitcoin ($BTC ) is gearing up for a major rally toward $78,000, fueled by technical indicators and #Chinaâs recent $140 billion economic stimulus. The Peopleâs Bank of China (PBOC) announced a 50 basis point cut in the reserve requirement ratio, aimed at easing borrowing costs and supporting the economy. This move is expected to boost global liquidity, encouraging investment in risk assets like Bitcoin.
Technical Outlook: #BullFlag Pattern
- Bitcoin is forming a bullish "bull flag" pattern, signaling a potential breakout toward $78,000. However, a pullback could see BTC dip to $55,000 before resuming its upward trajectory.
- In summary, Chinaâs stimulus and Bitcoinâs bullish technicals align for a potential surge, with traders closely monitoring key levels.
Source - cointelegraph.com
