This article has been translated from English to Gen Z Slang.
Bitcoin (BTC/USD) might be vibin' on a support floor after hitting fresh highs last week. 🚀
Think the OG crypto's gonna flex those gains even more?
Let’s peep the 4-hour chart real quick:
Bitcoin (BTC/USD): 4-hour
Bitcoin (BTC/USD) 4-hour Forex Chart by TradingView
Bitcoin was stackin' mad pips last week as traders yeeted the U.S. tariff drama and betted on interest rate cuts and lit market vibes. 🌈
BTC/USD was cruisin’ with higher highs and higher lows since late June, hitting fresh all-time highs just below $124,000 before chillin' in the $116,000 to $117,000 area. 💪
Don’t forget, the market gets its energy from the real stuff. If you ain't done your homework on bitcoin and the U.S. dollar, better check that economic calendar and keep up with daily updates! 📚
Since then, the price action switched lanes, showing lower highs but still vibing above $116,000. For now, BTC/USD's lookin’ like it's forming a bullish pennant pattern, hugging a trend line support that’s been on point since June. 🔮
Is BTC/USD ready to hit new highs again? 🤔
Right now, it's all about seeing if BTC/USD can break above $118,000. A clean move above could mean it's party time heading back towards $123,000 record highs. 🎉
But if sellers step up, bitcoin might dip and test that trend line support. If BTC/USD drops below $116,000 and stays there, we might be seeing a slide back to $112,000 or even $100,000. 😬
No matter the vibe you're trading, remember to keep it smart with risk management and stay woke on big moves that could impact the overall scene. 🌐
Disclaimer:
Heads up fam, the tech analysis content here is just for the lulz and learning. It ain't trading advice. Tech setups point to action spots other traders might peep. At the end of the day, your trade risks and ops are on you. Make smart choices! 💡
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.