CandleFocus

BTC Breakout Alert: Broadening Wedge Points to $88,000 – $90,000 Midterm Highs

Author: Content Editor
Bitcoin has experienced a bullish breakout after a period of consolidation, with the recent move above $66,500 signaling a potential rally towards a midterm target of $88,000 - $90,000. The cryptocurrency surpassed key levels such as the 76.4% Fibonacci retracement and trend line resistance, with the next major test lying around $71,500 and $72,000. A successful close above $72,000 could lead to new highs, potentially setting a new all-time record. Support levels at $68,200 and $67,500 are important for short-term movements, while a drop below $66,500 could trigger larger corrections. Investors are cautious yet hopeful for Bitcoin's progress towards the anticipated target range.

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