Bitcoin’s blasting through ceilings! After shattering resistance levels like glass, the bulls are stampeding towards its all-time high. Buckle up – a rendezvous with the channel’s upper limits is practically inevitable before gravity kicks in. The target? A cool $135,000 before the pullback.
Summary
- $119K is the critical support level maintaining bullish structure.
- BTC is approaching high timeframe resistance beyond all-time high at $135K.
- Rejection may trigger range trading between $100K and the channel top.
Bitcoin’s bulls have bulldozed through resistance after resistance, leaving only the Everest of all-time highs standing between them and glory. Shatter that peak, and watch the fireworks! A rocket-fueled ascent into the channel’s upper stratosphere becomes almost inevitable. But beware the chilling winds at that altitude – this zone could become a magnet for bears, triggering a violent rejection and sending Bitcoin tumbling back to Earth, seeking solace in familiar support levels.
Key technical points
- Current Support:$119K remains critical to keep bullish projection intact.
- Immediate Target:Channel high resistance above all-time highs.
- Potential Rotation:Rejection at resistance could lead to $100K retest.
BTCUSDT (1D) Chart, Source: TradingView
Bitcoin’s price is staging a daring ascent, poised to crack the $135,000 ceiling of its trading channel. Like a climber who has conquered treacherous ledges, Bitcoin has blown past previous resistance, revealing a clear shot at its all-time high and the uncharted territory beyond.
Bitcoin’s hitting a wall. This isn’t just any wall; it’s a historical battleground where rallies often stall or flip. Rejection here won’t kill the bull, but expect a sharp pullback, likely retesting the $100,000 safety net. Think sideways shuffle, a breather before the next surge. Channel consolidation is the name of the game if this resistance holds.
As long as the $119,000 floor remains unbroken at the final bell, the bulls keep control. This price point is the uptrend’s lifeline; lose it, and prepare for a plunge. A fall below signals a potential freefall, inviting a re-acquaintance with the market’s lower depths.
You might also like:
Ethena prints golden cross that preceded 87% rally in 2024
BTC’s poised to break higher, but buckle up. The ride gets bumpy near that resistance zone. Blast through it with heavy buying, and we’re talking warp speed price discovery. Get rejected? Prepare for sideways purgatory between $100K and the channel ceiling. Keep your eyes glued to the volume; it’ll tell the tale.
What to expect in the coming price action
Bitcoin’s aiming for the stars, blasting towards a new celestial peak beyond its all-time high. Imagine a launch to the $135,000 resistance zone. But beware the gravity well! Rejection at that altitude could trap Bitcoin in a prolonged orbit, oscillating between a $100,000 floor and the $135,000 ceiling.
Read more:
Five trustworthy free Bitcoin mining platforms for 2025
Thanks for reading Bitcoin eyes $135k as daily structure holds strong above $119k support
