This article has been translated from English to Gen Z Slang.
Bitcoin just pulled a major glow-up from its $81K struggle bus and is now chilling above $90K like a boss. 🚀
How high can this OG crypto hit up there? 🌌
That 4-hour chart is dropping hints about where the bears might try to sneak in and spoil the party. 🐻
Bitcoin (BTC/USD): 4-hour
Bitcoin (BTC/USD) 4-hour Chart by TradingView
Bitcoin (BTC/USD) decided to go off-script on Tuesday, doing its thing and climbing higher while stocks hit the snooze button. 😴 Why? Well, it could be traders cashing in on the dip or maybe some chat about the U.S. SEC Chairman throwing crypto a bone with that “innovation exemption.” 🤔
Meanwhile, the U.S. dollar was tripping and slipping against the other big guys, as folks are betting on some sweet Fed rate cuts. 🎢 Momentum went full send when rumors popped that Kevin Hassett, who’s a big fan of lower rates, might be pulling on JPow’s swag early next year. 🤘
So BTC/USD was on a bit of a downer since October, but it's now flexin’ and headed towards this major resistance zone after hitting that $81K floor in November. 🚀Just a friendly reminder to get your homework done on where the U.S. dollar and bitcoin are vibing before you dive into market waters. 📝 Check the economic calendar and stay woke on daily fundamental news! 📆
We’re vibin’ with that $96K area, which matches up with the 50% to 61.8% Fibonacci retracement zone and squeezing past the 4-hour 200 SMA. 📈
Most importantly, $96K is sitting mad close to that trend line resistance that's been hanging around since October. 🚧
Red flags and those early bear vibes could send BTC/USD back down to $84K or even the sad $81K lows. But if it stays on the grind above $96K, then we might just see a revisit to that iconic $100K psychological level. 💯
Whatever trend you're choosing to roll with, make sure you got that risk management game tight and keep an eye out for those major catalysts that could be causing drama in the market chat! 🔍
Disclaimer:
Yo, the technical analysis deets here are strictly to flex some knowledge and education. Don’t go thinking it’s trading advice or any kind of vibe-check on where to throw your stacks. Remember, technical plays are just part of the full trading picture. Your moves, your risk, your gains or losses, all on you. Stay savvy, traders! 😎