We’re taking another look at #Bitcoin, which has surged higher and broken above its long-term channel — a move that’s caught the attention of many market watchers.
🔍 Key technical insights:
✅ The recent consolidation appears to be a midway pause in the uptrend. By measuring the preceding flagpole and projecting from the breakout, we derive an overall target near $145,000.
✅ Using Fibonacci extensions:
• From the September 2023 low to the March 2024 peak, projected off the July 2024 low, we see an interim resistance around $127,000.
• A secondary extension from the July 2024 low to the January 2025 high, projected off the March 2025 low, points to approximately $134,500.
📊 The broader bull trend remains intact while Bitcoin holds above its 55-day moving average. For those seeking tighter risk parameters, the 4-hour chart with cloud analysis suggests initial support around $119,500.
⚠️ As always, it comes down to your individual risk tolerance. (This is not investment advice.)
💬 I’d love to hear your perspectives:
• Are these targets on your radar?
• Where do you see Bitcoin heading next?
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
🔍 Key technical insights:
✅ The recent consolidation appears to be a midway pause in the uptrend. By measuring the preceding flagpole and projecting from the breakout, we derive an overall target near $145,000.
✅ Using Fibonacci extensions:
• From the September 2023 low to the March 2024 peak, projected off the July 2024 low, we see an interim resistance around $127,000.
• A secondary extension from the July 2024 low to the January 2025 high, projected off the March 2025 low, points to approximately $134,500.
📊 The broader bull trend remains intact while Bitcoin holds above its 55-day moving average. For those seeking tighter risk parameters, the 4-hour chart with cloud analysis suggests initial support around $119,500.
⚠️ As always, it comes down to your individual risk tolerance. (This is not investment advice.)
💬 I’d love to hear your perspectives:
• Are these targets on your radar?
• Where do you see Bitcoin heading next?
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.