Bitcoin has exploded past a multi-month resistance zone with authority, confirming a breakout that’s been building for weeks. This move aligns perfectly with the rising trendline, signaling strong bullish structure. But here’s the catch — the Stochastic RSI is flashing overbought levels, a classic sign that momentum could be topping out short-term.
Smart traders are now watching two key scenarios: either we see a healthy pullback into the breakout zone (around $112K) for a textbook retest, or bulls keep control and push price into parabolic territory. If this level holds as new support, it could become the launchpad for the next major leg up.
Breakout traders, backtest your pullback strategies and manage risk — the next move could define the rest of the month.
Smart traders are now watching two key scenarios: either we see a healthy pullback into the breakout zone (around $112K) for a textbook retest, or bulls keep control and push price into parabolic territory. If this level holds as new support, it could become the launchpad for the next major leg up.
Breakout traders, backtest your pullback strategies and manage risk — the next move could define the rest of the month.
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Disclaimer
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Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
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.