Bitcoin in Bullish Zone: Keys to the Momentum

in AVLE 일상2 days ago

Bitcoin has entered a favorable area for an upward movement due to several technical and fundamental factors.

Technical Factors:

  • Chart Patterns: Bitcoin recently formed a "cup with handle" pattern on its weekly chart, suggesting a continuation of the uptrend. This pattern is characterized by a consolidation phase followed by an upward breakout, with a price target that could reach $126,000.

  • Support and Resistance Levels: Analysts have identified key levels in the Bitcoin price. For example, it has been noted that if the price breaks through the resistance of $106,000 with significant volume, it could resume its long-term uptrend.

Fundamental Factors:

  • Regulatory Expectations: The prospect of a more favorable regulatory environment under President Donald Trump's administration has generated optimism among investors. The possibility of establishing a federal Bitcoin strategic reserve could boost institutional adoption and the cryptocurrency's price.

In short, the combination of favorable technical patterns and positive regulatory expectations has placed Bitcoin in a prime position for a bullish move.

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!sbi status

Hi @apoloo1!

  • you have 23 units and 0 bonus units
  • your rshares balance is 1144268931663 or 0.304 $
  • your next SBI upvote is predicted to be 0.076 $

Structure of your total SBI vote value:

  • 99.74 % has come from your subscription level
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  • 0.00 % has come from upvoting rewards
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Enrollments and balance increases operate on a 2.4 hour accrual cycle.