BTC’s Next Milestone : $124K by January 20th
#BTCSurges67K #BTC☀ #BinanceSquareFamily
Overview :
BTC’s weekly chart showcases a Cup and Handle pattern that began forming in November of last year. Such extended patterns historically signal strong bullish potential, and the projection indicates a near-term target of $100,000, with a likely surge to $124,000 by January 20th.
Key Observations :
Pattern Formation : The Cup and Handle pattern reflects sustained consolidation and is a bullish breakout signal.
Timeline : The target aligns with January 20th, coinciding with the U.S. Presidential inauguration.
Market Sentiment : Despite BTC nearing $100K, this analysis suggests significant momentum remains, supported by strong fundamentals.
Resistance Levels :
Immediate Resistance : $100,000 – A psychological barrier and near-term milestone.
Target 1 : $124,000 – A potential peak driven by bullish sentiment and technical patterns.
Pro Tip :
While BTC is poised for growth, consider indirect plays like MSTR (MicroStrategy) or Bitcoin miners for diversified and potentially higher returns during this bull run.
Conclusion and Advice :
BTC’s long bull run shows no signs of slowing, with $124K as a realistic target. The Cup and Handle formation lends weight to the bullish narrative. However, set stop-loss levels and manage risk to safeguard against market volatility. This could be the perfect time to ride BTC’s momentum while exploring related investments like MSTR for amplified gains.
