$BTC
Bitcoin price analysis: Breakout is imminent, bulls or bears are about to win!
Bitcoin has recently been hovering around the 92000-93274 resistance area. Bears are trying to prevent it from rising further, but bulls have held their ground and have not given in easily, giving the market hope for an uptick.
Key point analysis:
1. Bulls' advantage:
If the price breaks through 93274 and stands firm, bulls will usher in a big outbreak, with the target directly at the psychological level of 100000.
After breaking through 100000, the next target may be 113331, which will become a new battlefield for bulls.
2. Short defense line:
If bears pull the price back below 85000, the trend may weaken and fall further to the 20-day moving average (89700).
Falling below the 20-day moving average will rekindle the bearish force, and the market may enter a deeper adjustment phase.
Short-term trend: Symmetrical triangle pattern
On the 4-hour chart, a symmetrical triangle is formed, suggesting that the market is in a stalemate:
Upward breakthrough: If the price breaks through and stands on the upper edge of the triangle, it will start an upward trend to hit 100,000.
Downward breakthrough: If the price falls below the lower edge of the triangle, short-term bulls may take profits, and the price may fall back to 85,000 or even 80,000.
Operation suggestions
1. Break through 93274 and follow the long position: target: 100,000, and look at 127,960 after the breakthrough.
2. Fall below 85,000 and go short: target: 80,000.
Bitcoin is standing at a critical node. Breakthrough or callback, the victory or defeat may be revealed in the next few candlesticks! 🚀
