Crypto news

Bitcoin’s Fixin’ to Break Out!

BBG News

Well, shucks, folks! It seems like Bitcoin‘s got more lives than a cat has lives – and that’s a whole lotta lives! 🐈 Despite all the hubbub and kerfuffle goin’ on in the world, Bitcoin’s still standin’ tall, like a cowboy in a gunfight. After days of uncertainty, fueled by them escalating conflicts between Israel and Iran, BTC‘s held its ground at $104,000 and is now fixin’ to push on up into higher territory! 🚀

Now, I know what you’re thinkin’, “What in tarnation’s goin’ on here?” Well, let me tell you, partner! Fresh data from CryptoQuant’s sheddin’ some light on the situation. It seems that Permanent Holder demand’s acceleratin’ faster than a runaway stagecoach! 🐴 These long-term investors and institutions are buyin’ up BTC like it’s goin’ outta style, and they ain’t showin’ no signs of slowin’ down! 💸

With this trend gainin’ momentum, and price support lookin’ as sturdy as a brick outhouse, Bitcoin’s lookin’ like it’s ready to make another leg up – if them broader macro conditions don’t come along and throw a wrench in the works, that is! 🤞 All eyes are on them $109K and $112K resistance levels, like a hawk watchin’ its prey! 🦅

Consolidation’s the Name of the Game, Folks!

Bitcoin’s been consolidatin’ for weeks now, like a cowboy lassoin’ a steer! 🤠 After a wild first half of 2025, with them trade tariffs and US Treasury yields causin’ a ruckus, Bitcoin’s been takin’ a breather. But don’t you worry, partner! This consolidation’s just buildin’ strength, like a bodybuilder liftin’ weights! 🏋️‍♂️

And let’s not forget them Permanent Holders, accumulatin’ BTC like it’s goin’ outta style! 💸 They’re the ones with the long-term conviction, and they’re the ones who’ll be laughin’ all the way to the bank when the dust settles! 🏦

This structural demand trend, combined with Bitcoin’s ability to weather them macro storms, suggests the market’s quietly buildin’ strength for a big move! 🌪️ If them geopolitical risks stabilize, and macro conditions ease up, BTC could break out from its current range and retest that $112,000 all-time high! 🚀

BTC Bulls Are Back in the Saddle!

Bitcoin’s showin’ signs of renewed strength, like a wild mustang breakin’ free from its corral! 🐴 After bouncin’ off that critical $103,600 support level, BTC’s pushin’ back above them key moving averages! 📈 The 4-hour chart’s lookin’ like a cowboy’s best friend, with them 50, 100, and 200-period SMAs all lined up like ducks in a row! 🦆

The move back above them moving averages, particularly that 200 SMA (red line), suggests demand’s pickin’ up like a cowboy pickin’ up his hat! 🎩 Volume’s increased during the recent push, validatin’ the breakout attempt! The $103,600 level’s still the key support to watch, like a hawk watchin’ its nest! 🦅

To confirm a continuation of the uptrend, BTC’s gotta break above that $109,300 resistance with a strong candle close, and ideally retest it as support! 🔥 If rejected again, traders could expect a retest of the $105K-$106K zone, which aligns with the moving average cluster now actin’ as support! 🤞

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2025-06-16 22:43

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