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Bitcoin Bulls Continue to Pursue Further Growth Following a Fresh All-Time High
Bitcoin has reached a new peak of $93,180, with buyers maintaining strong control over the market. The bullish momentum remains dominant as the year advances, particularly throughout the last quarter. The recent climb past critical resistance levels highlights robust buying interest, although temporary pullbacks are evident as the price seeks stability at these new highs.
BTCUSD Price Levels:
Resistance Levels: $93,180, $89,000 Support Levels: $82,000, $65,000 Bitcoin’s bullish rally has demonstrated exceptional strength, shattering previous resistance levels to establish a new all-time high. This upward movement began after a notable pullback near the $65,000 zone, where buyers regrouped and initiated a powerful recovery. The rally reflects increased market confidence, with investors leveraging the prevailing bullish momentum.
While this week has seen a brief pause in upward traction, the overall bullish outlook remains solid. The minor retracement is seen as a healthy correction, potentially laying the groundwork for another upward surge. Buyers appear ready to maintain their momentum, with the next psychological target set at $95,000.
The Parabolic SAR indicator supports the continuation of the bullish trend, with dots positioned below the price action, signaling sustained upward momentum. This aligns with the prevailing market sentiment, affirming buyers’ control and the likelihood of further expansion. However, the Momentum indicator has shown a slight decline, suggesting a potential slowdown following the recent rally. This could point to some profit-taking or minor market exhaustion at the new all-time high.
Market Expectation
In lower time frames, bullish sentiment continues to dominate, as evidenced by the Parabolic SAR’s ongoing support for potential gains. Despite the slight dip in the Momentum indicator, buyers are expected to attempt another push higher. The market appears to be consolidating in preparation for its next upward move. Any pullbacks toward the $88,000 support area could attract additional buying interest, providing traders with opportunities to re-enter the rally. Traders leveraging crypto signals may find these price levels pivotal for strategizing their next moves.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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