Bitcoin Price Breakout Puts $78,000 in Sight, But One Risk Remains
Bitcoin's price broke out from a cup-and-handle pattern, targeting $78,000, despite slowing capital inflows showing a potential risk.Summary
Bitcoin's price has risen nearly 11% over the past week, breaking out from a cup-and-handle pattern that projects a potential move toward $78,000. While technical momentum is strong, analysis shows potential friction. The Chaikin Money Flow (CMF) indicator exhibits a bearish divergence, suggesting slowing capital inflows despite the rising price, which could lead to short-term pullbacks. However, exchange outflows have significantly increased, indicating strong spot accumulation, and leverage in the derivatives market has declined, reducing the risk of large liquidations. Key resistance levels must be cleared, starting at $74,300 and then $75,100, to confirm the path to the $78,000–$79,000 target; support lies near $72,000.
(Source：BeInCrypto)