Is Bitcoin About To Breakout? 3 Key Indicators Say Yes (Technical Analysis) (Rating Upgrade)

PropNotes
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(10min)

Summary

  • Bitcoin is in a strong uptrend, consistently making higher highs and higher lows, signaling a bullish market structure near all-time highs.
  • Our custom Mean Deviation Detector shows Bitcoin has room to move higher before reaching extreme levels, supporting a bullish outlook.
  • Bollinger Bands indicate expanding volatility, suggesting a breakout above $110,000 is likely, with a price target of $150,000.
  • Despite some RSI caution, the risk/reward is attractive; we're upgrading BTC-USD to 'Buy' with a recommended stop loss around $75,000.
Olsztyn, Poland 13 July 2021. Golden bitcoin coin over defocused stock chart

Nastco

Here at PropNotes, we’ve been crypto enthusiasts since 2016 when we purchased our first few Bitcoins (BTC-USD).

Curiously, though, we didn’t start actually covering or writing about the leading digital asset until October of last year, when we rated BTC a '

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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