BITCOIN Weekly Chart Targets Massive $129,500!!

12 Nov

BTCUSDT Analysis:

The Bitcoin Weekly Chart is setting the stage for a monumental move with TP1 already achieved, and all eyes now on the higher targets. The final target of $129,582.3 suggests the potential for a historic rally as technical indicators and market sentiment align in favor of the bulls.

BITCOIN Trade Overview:

• Entry: $67,957.6
  
• Stop Loss (SL): $58,435.8
  

INDICATOR USED: Risological Swing Trader

BITCOIN LONG TRADE TARGETS:

• TP1: $79,726.4 ✅
  
• TP2: $98,769.9
  
• TP3: $117,813.4
  
• TP4: $129,582.3
  

Key Observations:

• Weekly Breakout: Bitcoin's weekly chart shows a significant breakout from key resistance levels, with strong momentum driving prices higher.
  
• Moving Averages Cross: A bullish cross of the moving averages underpins the ongoing rally, signaling sustained buyer strength.
  
• Market Sentiment: Bitcoin is riding a wave of positive sentiment, bolstered by institutional interest and increasing adoption narratives.
  

BTC Outlook:
Bitcoin’s momentum on the weekly timeframe suggests a continued rally towards TP2 and TP3, with the possibility of reaching TP4 under strong market conditions. Traders should monitor weekly closes to confirm the rally's sustainability, while maintaining risk management strategies.

Conclusion:

Bitcoin’s long-term technical setup is firing on all cylinders. With TP1 already hit, the path toward the final 129K target could unfold as momentum builds. This is a trade that will be remembered for years to come!