Bitcoin’s latest breakout has captured the attention of traders and investors alike, as upward momentum shows signs of sustained strength. If this breakout holds and volatility continues to push prices higher, the next major bullish target sits near the $108,000 mark. This level echoes the kind of parabolic rallies witnessed during past euphoric phases in the crypto market.
Nonetheless, traders should remain cautious of potential pullbacks. Immediate support is likely to emerge around the 20-day Simple Moving Average (SMA), currently near $94,938. A deeper correction could see prices test the lower band of support around $87,175 — a level that may attract buyers in the event of heightened selling pressure.
Adding weight to the bullish outlook, the Moving Average Convergence Divergence (MACD) indicator remains firmly in positive territory. The MACD line holds well above the signal line, while the expanding positive histogram highlights strengthening bullish momentum — a promising sign for continued upside.
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