strong buy
Bitcoin Price Surges to New ATH After Structural Break
Bitcoin continues its upward momentum and hits new all-time highs (ATH) after removing a significant supply zone. The volume during the breakout increases, reinforcing the strength of this move. The break in structure confirms a trend reversal, characterized by higher lows (HL) and a distinct higher high (HH). The removal of supply around the 111,000 USDT mark further supports the bullish structure. Volume profile analysis shows liquidity concentrated between 108,000 and 110,500 USDT. The current reaction from Fibonacci retracement levels (0.618 and 0.786) indicates that buyers are actively defending these key levels. If buying pressure persists, the price could aim for the projected target of 115,633 USDT. However, a pullback to around 111,600 USDT would not invalidate the bullish structure as long as the current higher lows are maintained.
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AI Analysis
The recent analysis of Bitcoin’s price action indicates a robust bullish trend with clear technical confirmations. The break above a significant supply zone suggests strong buying interest and a shift...
AI Recommendation
Considering the technical evidence, it is advisable to favor a bullish stance on Bitcoin. Traders should look for opportunities to buy on dips, especially if the price retraces modestly to the 111,600...
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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