BITCOIN-->Implementation and distribution phase. Target 100,000
2024-11-18

BINANCE:BTCUSDT  is consolidating after a strong rally. In the context of a more likely rally. The target around 95,000 - 100,000 is getting closer and more realistic. What is the reason?

The fundamental backdrop is strong because of the Trump presidential election, which is generally favorable for bitcoin and other crypto flows. Can this rally be even bigger? Yes! And there are bullish premises for it:
BTCUSDT has broken out of the accumulation (triangle) but faces a strong resistance zone. The coin continues to accumulate potential, but there are signs of a resistance breakout.

Technically, the picture on the chart is shaping up to be extremely bullish: no extension of the lows, strong consolidation and strong support levels.
I do not rule out the possibility of a retest of the support level and the formation of a false breakdown before further growth. But in any case, a break above the major resistance zone at 91,650 could trigger a bullish run.