strong buy

Bitcoin Breaks Resistance, Aiming for Key Support and CME Gap Fill

The analysis has been derived from the VIP channel and precisely aligns with Bitcoin's current price behavior on the timeframe. According to the chart, Bitcoin has surpassed a significant resistance zone around $114,000 to $115,000, which previously acted as a ceiling multiple times, and has reached a new high near $119,940. However, a price correction is now underway, bringing the price down to $117,429. The broken resistance area now serves as a new support level, and a logical retest or pullback might occur at this zone. Additionally, the unfilled CME gap between approximately $115,635 and $114,380 is considered a credible target for the correction. CME gaps in Bitcoin markets tend to fill with high probability, as they are formed outside regular trading hours and the market generally aims to close them. From a technical perspective, the current structure indicates a valid break above resistance followed by a classic pullback to the broken level. The Ichimoku cloud below also confirms that medium-term supports are active, and the overall trend remains bullish.
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AI Analysis

The current analysis leverages recent technical developments in Bitcoin, pinpointing a clear breakout from a significant resistance area around $114,000 to $115,000. This breakout has propelled Bitcoi...

AI Recommendation

Given the technical signals, maintaining a cautiously bullish stance seems appropriate. Traders might consider holding or adding positions if the price finds acceptance above the support zone around $...

Disclaimer

The AI 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.

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