$BTC BITCOIN'S BREAKOUT: COULD $100K BE JUST AROUND THE CORNER?
➡️ Bitcoin has been trading within a Descending Broadening Wedge pattern for the past six months, facing strong resistance around the $69K to $70K level. Despite several attempts, the bulls have struggled to break through this level.
➡️ Crypto analyst Captain Faibik believes that this resistance is weakening, increasing the chances of a breakout. If Bitcoin can successfully break through this level, it could reach $100K in Q4.
➡️ The pattern's technical analysis suggests a potential reversal, with the lower trendline acting as support and the upper trendline serving as critical resistance. The repeated tests of this resistance have weakened it, making an upside breakout more likely.
➡️ Captain Faibik advises traders to be cautious, especially with leverage trading, due to the volatility near key resistance levels. On the other hand, long-term Bitcoin holders are encouraged to stay optimistic, as a bullish trend may be on the horizon.
➡️ In summary, Bitcoin is at a crucial point, and if it breaks through the $69K to $70K resistance, it could hit $100K by the end of the year.
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