Bitcoin price analysis: Chart breakouts show big upward potential
Bitcoin ($BTC) shows updated strength after breaking a key resistance of $108,000. This is the level that previously concluded multiple rallies in June. This fresh bullish momentum comes right after the powerful macro tail: US President Donald Trump said in his speech “Bitcoin puts pressure from the dollar.” The market interprets this as a green light of the long-term legitimacy of the crypto, and traders are responding accordingly.
BTC Coin Technology Setup: Bullish breakout confirmed?
On the 4H chart, BTC was finally pushed out of the descending triangular structure (orange line), indicating a bullish breakout. The breakout candle is clean, supported by volume, suggesting continuity. The next important level to look at is $109,000 – The horizontal resistance currently standing as the current final wall before Bitcoin tests The highest ever $112,000.
- EMA 200 (Blue Line): Prices are currently trading 200 EMA comfortably for ~$105,138, enhancing the trending change.
- RSI (14): I'm sitting now 64.70approaching an excess of zone, but not in the reversal area yet. This means that cooldowns can occur in front of the next leg, but there is room for upwards.
- Support Zone: For pullbacks, there is strong support $105,000 after that $103,343. Once BTC is in its range, it can provide advanced re-entry points.
BTC/USD 4-hour chart – TradingView
Entry and X-Strategy: What Traders Should Watch
Entry ideas:
- Break the strategy and retest: Wait for BTC to retest surrounding breakout zones $108,000. A successful retest and bounce could potentially provide a strong long entry towards the ATH.
- Proactive entry: Enter the tight stop loss below $106,500We are aiming for the next breakout $109,000 And then Asu level.
target:
- $109,000 – The first big resistance.
- $112,000 – The best ever.
- Over $115,000 -If BTC defeats the ATH, the next psychological magnet is around $115,000-118,000.
Stopping suggestions:
Below $105,000200 EMA and support for previous structures exist. Below the break that could invalidate current bullish papers.
Trump Bitcoin Statement ignites institutional confidence
Donald Trump's unexpected support for Bitcoin as a pressure relief valve for the US dollar has given the BTC Bulls a much-needed catalyst.
