Bitcoin (BTC) Price Breaks Crucial Resistance: Here's Why BTC Could Skyrocket

The excitement over Bitcoin (BTC) is growing once more. Because its price is getting close to a significant long-term level, traders and investors are keeping a careful eye on it. This may indicate that a substantial price adjustment is imminent.

Cryptocurrency prices today are showing signs of life once again. This is especially true for Bitcoin (BTC), which has been closely watched by traders and investors as its price approaches a crucial long-term level. This could indicate a major move in the cryptocurrency’s price.

Crypto analyst Titan of Crypto highlighted this breakout with excitement on X (formerly Twitter), adding that this is “the one to watch closely this week.” The price action shows a breakout from a major resistance, which could indicate a shift in momentum.

Bitcoin Chart Analysis: Breakout From Major Resistance

Titan’s BTC chart shows that it is trading within an ascending channel on the weekly timeframe, with several color-coded zones indicating different levels of support and resistance. Bitcoin’s price action has consistently respected the structure of this channel, moving higher despite occasional pullbacks.

A key horizontal red line, marking a macro resistance level, earlier acted as a strong barrier preventing BTC’s price from advancing further. However, Bitcoin has now broken through this level, signaling increasing bullish momentum. This breakout positions Bitcoin for further gains as it heads toward a higher price target zone.

BTC Price Eyes Next Key Levels

According to Titan, Bitcoin is now targeting a zone, with the next potential price move aiming for the upper channel, indicated by a range between $110,000 and $130,000. BTC’s price could reach these levels if the momentum continues.

The upper boundary of the channel acts as resistance, but the breakout from the red line suggests a potential for an extended rally. If Bitcoin fails to continue its upward trajectory, its price may experience a pullback to the lower portion of its established range. This lower zone could present a favorable area to buy Bitcoin.

Related: Expert Predicts Polkadot (DOT) Price Could Rally 70.5% – Here’s the Outlook What’s Next For Bitcoin?

Highlighting this macro level in his tweet, Titan adds that BTC is testing a crucial point. He also suggests further price action as traders keep a close watch on Bitcoin. If Bitcoin can sustain this breakout, the momentum could carry it to the upper price targets outlined on the chart.

The support zones, marked by the lower section of the ascending channel, provide a safety net for Bitcoin’s price. In the event of a pullback, these areas may act as floors for the price, giving traders信心 to hold or accumulate more BTC during corrections.

The overall market structure for Bitcoin remains bullish. The ascending channel suggests a steady uptrend, with each pullback serving as a potential buying opportunity. The chart identifies key resistance and support zones, offering traders a roadmap for possible future movements.

Bitcoin is following its usual pattern. If it can break through a tough barrier, it might go even higher. But traders should be careful when it comes to Bitcoin. If it can’t break through, the price might stay the same for a while or go back down to test the lower part of its range again.”

With eyes on the next levels and this key macro test, Bitcoin’s future price movements could shape the coming months of the crypto market.

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