BTC Breakout Confirmed on Weekly Chart! TO THE MOON!
2024-12-02

As anticipated in my earlier analysis, Bitcoin (BTC) continues its powerful bullish trajectory, and now, the weekly chart has officially confirmed this move! 📈

Key Insights from the Chart:
Breakout Above Long-Term Trendline:
BTC has successfully broken above the long-term resistance trendline, a significant indicator of a continued bullish momentum. This breakout confirms a shift in market sentiment, pushing BTC into a fresh phase of price discovery.

Retest of Trendline:
After the breakout, BTC performed a textbook retest of the trendline on the weekly timeframe, validating the breakout as legitimate. This retest further solidifies the foundation for the next leg up.

Approaching Historic Milestone – $100K!
BTC is now approaching the psychological and historical $100,000 level for the first time ever. Breaking this level will not only mark a new all-time high but will also likely attract significant institutional interest, sparking FOMO (Fear of Missing Out) among retail traders.

What to Expect Next?
Continuation of Bullish Momentum:
The recent breakout and retest suggest that BTC has strong momentum and could surpass the $100K mark in the coming weeks. Based on historical patterns and the current trajectory, we may see even higher levels as BTC enters uncharted price territory.

Upside Targets Beyond $100K:
Once $100K is cleared, Fibonacci extensions and historical fractals suggest potential targets of $110K-$120K in the medium term.

Conclusion:
This confirmed breakout and retest on the weekly timeframe are highly bullish signals. With the $100K level within reach, BTC is poised to make history once again. 🚀

What are your thoughts on BTC’s next move? Will it smash through $100K soon? Share your insights in the comment section! 