Bitcoin Eyes $131,617 After Breakout Above $125,000
I see Bitcoin poised to test $131,617 after clearing the $124,474 resistance; a sustained break above $125,000 would likely accelerate bullish momentum over the coming weeks.
My technical read shows upward momentum—price structure, moving averages and breakout levels favor buyers, though confirmation from volume is important.
I remain constructive but cautious: I'll scale exposure on confirmation and protect positions with stops if price fails back below the breakout level.
Analysis
Breakout above $124,474/125,000 signals a bullish continuation with technical indicators favoring buyers, but volume confirmation and vigilance for false breakouts are essential.
Recommendation
Buy on confirmed breakout or scale in cautiously; use a stop-loss below the breakout level and take partial profits near the $131,617 target while managing position size.
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.