Technical analysis of the daily candlestick chart shows the formation of a minor impulsive wave from $103,000, which may mark the final end of the recent consolidation and the beginning of a fresh rally towards new highs. Notably, recent price action in the past 12 hours or so has seen the gradual end of the consolidation, and attention is now turning to the next psychological level at $110,000. Analyst Sees Breakout As Signal For Upside Continuation In a post shared on the social media platform X, crypto analyst CrediBULL explained the logic behind his current long trade setup, pointing out that Bitcoin has broken away from its three-day consolidation zone with an early impulse that started at the $103,000 level.
The chart supports this with a clearly marked green area labeled "local demand.” This is the next major support if Bitcoin bulls fail to hold the current price levels.$110,000 Bitcoin Target In Sight With Increasing Market Momentum According to the crypto analyst, his prediction of the next move to $110,000 has at least a 20% chance of playing out.
Related Reading: Bitcoin 6-Month Flight Plan To $188,000, Here’s The Roadmap According to CrediBULL, the current trade has a clean invalidation level just below the impulse origin, allowing for a tight stop loss.
The story "Bitcoin Price Targets $110,000 All-Time High After Consolidation Trend Ends" has 443 words across 64 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin Price Targets $110,000 All-Time High After Consolidation Trend Ends" was covered 11 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 11 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
