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A breakout above this key resistance could ignite a rally matching the triangle’s height, which projects a target near $133,000.
Technical indicators support this bullish outlook. The 50-day EMA at $98,188 is acting as dynamic resistance, while the 200-day EMA at $84,403 provides long-term support.
Meanwhile, the Relative Strength Index (RSI) is hovering around 44.95, suggesting that BTC has room to climb before reaching overbought conditions.
If Bitcoin successfully breaks out, the move could trigger a fresh wave of bullish momentum, potentially sending BTC to new all-time highs above $130,000.
However, failure to break resistance could lead to a retest of the lower trendline around $95,000-$96,000 before another breakout attempt.
Altcoin Season Next?
The altcoin market cap (TOTAL2) is recovering from its recent downtrend, but it remains within a descending channel pattern, limiting its upside potential in the near term.
TOTAL2 recently rebounded after testing support near $1.2 trillion, showing early signs of a potential breakout attempt. However, the $1.28 trillion level remains a significant resistance, as it previously acted as strong support between November 2024 and January 2025.
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