- Bitcoin surpasses the $109K mark, confirming a bullish breakout and establishing a new all-time high in the ongoing uptrend.
- The market targets $150K as the next resistance, with current momentum driven by strong support at Alpha 2 and consistent demand.
- Technical indicators suggest short-term pauses, but the broader trend remains strong if Bitcoin continues to hold above the $109K level.
Bitcoin broke through the $109,000 ceiling and reached a new all-time high as it strengthens the market’s positive outlook. Traders are keenly observing if this break level will sustain itself as the next key milestone is reached.
Breakout at Alpha 2 Signals Bullish Continuation
According to a tweet from FundingVest, Bitcoin has surpassed Alpha 2 at $109,000, setting a new all-time high. This breakout suggests continued strength in the current uptrend. Holding above this level could sustain momentum toward the next key resistance.
Market watchers are focusing on the $109K mark as a critical support zone. If Bitcoin holds this area, it confirms strong bullish conviction. On the other hand, any sustained weakness below this level may lead to a corrective move.
With Alpha 2 now acting as a potential support, the path toward Alpha 3 at $150,000 becomes the next target. Traders are monitoring this development to determine whether the rally can maintain its pace or if a pause may occur.
$150K Target in Sight as Market Maintains Upward Pressure
The tweet further identifies Alpha 3 at $150,000 as the next significant resistance level. If Bitcoin is to continue its current path, this level may get challenged in the near future. Ongoing buying pressure and solid support at $109K are the decisive points in this move.
Oscillators, however, indicate overbought conditions. This technical reading could mean a short-term consolidation or pause before further advances. Nonetheless, the overall trend remains intact, provided $109K is not breached decisively.
Market participants are advised to track price action near the current level. Any strong reaction or retest around $109K will help assess the strength of the trend and potential for a push toward $150K.
Downside Risk Remains if Support Breaks
While the breakout above Alpha 2 is encouraging for bulls, FundingVest warns of a potential retracement. If the $109,000 level fails to hold, Bitcoin could drop toward $91,000, the previously established Alpha 3 support.
This downside scenario does not negate the broader trend but introduces short-term risk. Market sentiment may shift temporarily if this key level is lost, prompting cautious moves from investors.
Maintaining the support at Alpha 2 keeps Bitcoin’s bullish trajectory intact. Traders are keeping close watch on both the $109K and $91K levels to guide their next decisions.
