Bitcoin’s $116K Gambit: Bullish Hopes or Fool’s Gold? 🎰💸

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The crimson coin, Bitcoin, hovers near the ominous figure of $116,500, its 24-hour volume a river of $61.5 billion. A 3% rise over days and weeks-how thrilling! 🤡

Analysts, those modern-day prophets, whisper of bullish chart patterns, as if the market’s a Shakespearean tragedy waiting for its climax. 🎭

Inverse Head and Shoulders: A Serpent’s Revenge

Trader Tardigrade unveils a chart where Bitcoin coils into an inverse head and shoulders-a serpent poised to strike. The neckline, a barrier of resistance between $114,400 and $114,800, awaits its fate. Will it break? Or will it crumble like a house of cards? 🐍

“How can you not be bullish?” Tardigrade quips, as if the market’s a child’s toy. 🤪

Analyst Lennaert Snyder paints a symmetrical triangle, a narrowing dance of uncertainty. Yesterday’s close, a spark in the dark. The $115,700 target looms like a ghost. 🧟‍♂️

“Above $119,200 = new ATH imo. Lose $108,900 and $105,000 is next.”

– Lennaert Snyder, the oracle of crypto’s chaos

A breakdown? A descent into the $100,000 abyss. A tale as old as time. 🕳️

Ascending Channel: A Staircase of Hope?

Jonathan Carter points to an ascending channel since May, a staircase of hope. BTC rebounds from support, climbs above the 50-day MA-only to face $117,000, the gatekeeper. 🚪

Targets of $124K and $131K? A dream for the desperate. 🌌

Liquidity Zones: A Fortress of Fools

Daan Crypto Trades warns of a liquidity cluster in the $118K-$119K range-a fortress of support. Break it, and the market may leap. Or collapse. 🧠💥

$BTC The picture is clear from a liquidity perspective.

The $118K-$119K region has a big liquidity cluster…

– Daan Crypto Trades, the emperor of crypto’s fads

Q4, that magical time when markets “often deliver strong rallies.” How poetic. 🎉

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2025-10-01 17:17