Bitcoin Don Pass $112K, E Dey Hold $107K Support, E De Eye $120K+
Veteran analyst Peter Brandt don hold long Bitcoin position afta one sharp breakout pass $112,000 for Bitstamp. Dis move dey confirm say market dey bullish and e dey push Bitcoin go new all-time highs.
Brandt talk say $107,000 be critical support level; if e break, e fit cancel di uptrend and cause sharp correction. E also mention $108,100 as secondary support.
Based on di expanding triangle pattern range, im post-breakout price targets na $120,958 and $134,886. But Brandt warn say expanding triangles get high failure rates and e advise traders make dem set stop-loss orders and manage risk well well.
Dis technical setup dey give clear entry points and profit benchmarks for short-term traders and long-term investors as Bitcoin dey approach di $120,000 mark.
Bullish
The breakout wey pass $112,000 and the confirmation say bullish momentum dey mean say BTC get chance to go up. If dem fit hold the $107,000 support level, e go reduce short-term risk to fall and fit boost trader confidence. Brandt upward targets for $120,958 and $134,886 give clear profit goals wey fit support more price increase. Even though the warning about high failure rates for expanding triangles dey make people cautious, overall feeling still positive; e encourage short-term traders to enter long positions and long-term investors to hold BTC.