📈🚀 Bitcoin Friday Update: Third Attempt at Breakout 🎯
Friday often brings momentum, and this one might not disappoint.
Yesterday, I highlighted the level at $120,737 — the very top of the move. And here we are again, pressing for the third attempt higher inside the same ascending channel I’ve been sharing with you for weeks.
🔑 Current Setup
Entry from the lower band near $110,000 has aged well.
We are now testing the upper red boundary around $120,800.
A clear break above opens the path to:
→ $122,000
→ $138,800 (main technical target)
⚖️ Long vs Short
Long bias remains valid as long as price holds inside the ascending channel.
A short attempt? Technically possible here, but risky.
→ If price breaks above the red resistance line, shorts will need to exit quickly.
Remember, manipulation faked out traders twice before around this zone. But this time it’s October, and cycle compression is on our side.
🌍 Macro Context
Rate hikes continue.
Gold and stock indices have already moved higher.
Bitcoin, historically lagging, may now have catch-up ground to cover.
This aligns with the broader cycle thesis — October is rarely quiet.
🕒 Weekend Outlook
✅ If Bitcoin breaks out → Expect altcoins to light up this weekend.
❌ If Bitcoin fails → Likely a slow, sideways weekend.
But my read? This weekend looks set to be exciting.
💡 Thought of the Day
“Did the Market take a pause for Bears to Load on Shorts?? Or is it Longs that get smashed next?” I think the First!
Trade wisely.
One Love,
The FXPROFESSOR 💙
