Bitcoin’s Triumph or Tragedy: A Tale of False Breakouts and Bullish Dreams

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It seems, dear reader, that the crypto market, much like our own fickle hearts, is once again basking in the delicate hue of green, as observed by CoinStats. How delightful! 🍀

BTC/USD

Bitcoin (BTC), that noble and unpredictable creature, has risen by 1.35% since yesterday. A modest triumph, one might say, yet in the world of crypto, even the smallest of gains is a cause for jubilation. 🎉

On the hourly chart, the bold Bitcoin made a valiant attempt to break through the local resistance at $112,775, only to retreat in what can only be described as a “false breakout.” How charmingly dramatic! One must wonder, dear reader, whether it will ever learn the art of true commitment.

Yet, fear not, for if the daily bar closes at or above that very resistance, we may yet see a continuation of this upward flirtation, reaching towards the sweet $113,000 range by tomorrow. A bit ambitious, don’t you think? 😏

And on the longer time frame, the noble Bitcoin seems to be forging a path toward the ever-elusive resistance of $113,473. Should the bulls keep their pressure, we might just witness a test of the $113,000-$116,000 area. Ah, the dreams of a prosperous tomorrow… or a crushing fall? Time will tell, as it always does.

From a midterm perspective, Bitcoin appears to be rising after a false breakout of $107,389. Yet, as any seasoned investor will tell you, patience is key. It seems we must wait while the buyers gather their strength, for a sideways trading scenario between $111,000 and $115,000 seems the most likely course. How terribly exciting, indeed.

At the time of writing, Bitcoin sits comfortably at $112,831. But for how long, dear reader, for how long? 🕰️

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2025-09-08 21:09