🚀 Bitcoin Bull Market Gains Momentum
The Bitcoin bull market continues to build strength as analysts spot a rare breakout opportunity similar to gold’s recent price action. This might hint at Bitcoin’s next move, especially with a major short squeeze underway. Currently, Bitcoin is trading above the $85,000 mark.
📊 Bullish Move & Cup-and-Handle Pattern
According to analyst Josh from Crypto World, Bitcoin’s weekly chart remains bullish, with a confirmed breakout above the $73,000-$74,000 resistance. This signals strong long-term potential. Interestingly, Bitcoin's current pattern mirrors gold’s recent breakout, both showing a "cup and handle" formation—a classic sign of a major move once resistance breaks.
💰 Gold Comparison & $126,000 Target
Gold’s breakout led to a 40% rise. If Bitcoin follows a similar path, it could push above $100,000. However, given Bitcoin’s faster pace, some analysts project an even higher target—reaching up to $126,000.
🔥 Short Squeeze Fueling the Rally
A massive short squeeze is driving Bitcoin higher. Liquidations of short positions have pushed prices beyond $80,000, with $89,000 as the next target. If Bitcoin breaks $86,000, milestones like $90,000 and $100,000 could soon be in sight.
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