Bitcoin continues its aggressive climb, maintaining a bullish trend and aiming for the crucial resistance at $130,000. This article reviews the current market situation and potential scenarios.
Current Market Situation
Bitcoin continues its aggressive move, trading near $130,000, an important resistance level. The market structure remains bullish, providing steady movement above the mid-range support of the channel.
Technical Analysis
On high time frames, Bitcoin respects the boundaries of a well-defined ascending channel. Support at the previous channel low has played a role during prior pullbacks. If the price reaches $130,000, it will indicate an approach to the upper boundary of the channel.
Future Projections
The expected price reaction at $130,000 will be critical. A strong breakout above this level could signal a structural breakout, potentially leading to new all-time highs.
The Bitcoin market continues its bullish momentum, with focus on the $130,000 level. Future movements will be determined by reactions at this key resistance.
