Bitcoin Breakout Target: $131K After Clearing $124.5K
I see Bitcoin building bullish momentum after breaking the key resistance around $124,474. Technical signals and price action suggest a sustained move higher over the coming weeks.
My baseline projection targets roughly $131,617 if the breakout holds; I'll be monitoring volume and any retest of the breakout level for confirmation before adding materially.
Analysis
Clearing $124,474 raises the odds of an advance toward $131,617; momentum supports the bias but confirmation via increased volume or a successful retest is important to validate the breakout.
Recommendation
Buy on confirmed breakout or on a disciplined pullback toward the breakout level, size positions cautiously, set a stop below the $124k support, and scale out near the $131,600 target.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.