Bitcoin Price Forecast: Navigating Resistance Levels and Potential Breakouts

In partnership with

A comprehensive analysis and trading strategy for Bitcoin based on technical indicators and market trends:

1. Current Market Situation:

Source:X.com
- Bitcoin has paused its upward momentum due to profit-taking and encountering technical resistance.

- Continued treasury purchases by the FED may indicate potential future price increases, often referred to as "Stealth QE."

2. Price Roadmap:

Source: Tradingview.com

- Major resistance is identified around $105,000.

- A breakout of approximately $110,000 could occur if this resistance is cleared, potentially allowing Bitcoin to test higher levels at $113,000 and $123,000.

- Above $123,000, there is no significant resistance, suggesting the possibility of a parabolic breakout.

3. Yearly Pivot Points:

Source: Babypips.com

- The focus is on reaching R1 in the short term, with potential targets set for R2 or R3 later in the year.

4. Trading Signals:

- Short-Term: New buy signal at lower levels, with a long position at $100,700, stop loss at $98,000, and a target of $113,000.

- Medium-Term: Long position at $82,000 with a stop loss at $82,000 and a target of $150,000.

- Long-Term: Long position at $79,000, stop loss at $65,000, and a target of $180,000, with a potential for Bitcoin to reach $230,000 if market conditions are favorable.

5. Risk Management:

- Acknowledgment of potential downside risk, with stop losses in place to manage exposure.

Smarter Investing Starts with Smarter News

Cut through the hype and get the market insights that matter. The Daily Upside delivers clear, actionable financial analysis trusted by over 1 million investors—free, every morning. Whether you’re buying your first ETF or managing a diversified portfolio, this is the edge your inbox has been missing.

Subscribe for free and invest with confidence.