Bitcoin's Bullish Momentum : Key Levels and Strategy

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Bitcoin has shown promising signs of a potential upward breakout, positioning itself for a bullish turn. The current support around $69,000 has held steady, with several successful tests that didn’t breach this level.

Traders are now eyeing this as a buy opportunity, with expectations of Bitcoin rallying further if it maintains support here.

Key recent trades highlight an active strategy :

- Buying at $69,071** with a tight **stop-loss (SL)** just under $69,000, around **$68,988**.

- Bitcoin briefly dipped to **$69,169**, where it found support and buyers reentered the market.

- Volume has also started to build, indicating renewed buying interest at these levels.

The golden Fibonacci retracement level is another bullish indicator, adding to traders' confidence. Prices are testing the **$69,200** resistance, aligning with a longer-term trendline.

Breaking above this level could signal stronger upward momentum, reinforcing the bullish sentiment.

Conclusion :

Bitcoin’s current setup suggests a solid buying opportunity, with strong support at $69,000 and resistance at $69,200. If Bitcoin maintains these levels and breaks above $69,200, the rally could gain strength. Traders should maintain a tight stop-loss to minimize risk.

Advice :

For those considering entering, maintaining a **stop-loss around $68,988** is advisable to limit potential losses, while monitoring $69,200 as a critical resistance. Holding above this level may offer further upside potential.