$BTC
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📈 Current Market Movement
Bitcoin has surged nearly 14% from its recent low of $80K, now stabilizing above $94K. Analysts highlight a breakout above $91.5K as a key turning point, with bullish momentum supported by long positions and institutional interest.
- ETF Outflows: After a brief cooling period, ETF inflows are returning, boosting market confidence.
- Production Cost Anchor: JPMorgan estimates BTC’s production cost near $90K, making it a psychological support level.
- Volatility Alert: Leverage is building, especially on Bitfinex, which could trigger sharp moves in either direction.
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🛡️ Key Support and Resistance Levels
- Support Zones:
- $90K – psychological and technical support.
- $80K – recent bottom and bounce zone.
- Resistance Zones:
- $100K – major psychological barrier.
- $110K – previous high before the recent correction.
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⚡ Recommendations for Traders
Short-Term Traders
- Trade the $90K–$100K range: Buy near support, sell near resistance.
- Watch for breakout confirmation: A clean move above $100K with volume could signal continuation.
- Manage risk: Use stop-losses below $90K to protect against sudden reversals.
Long-Term Traders
- Accumulate on dips near $90K or below.
- Ignore short-term noise: Focus on macro trends like ETF adoption and institutional buying.
- Target $120K–$150K over the next 6–12 months if bullish momentum sustains.
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🧠 Final Thought
Bitcoin is showing strength after a volatile correction, with support holding firm and resistance within reach. Whether you're trading the range or building a long-term position, this is a critical zone to watch. Stay disciplined, and let the chart guide your strategy.