Posted 4/8/2024, 10:33:00 AM
Bitcoin Surges Past $72K, Setting Sights on $80K After Bullish Breakout
- Bitcoin broke out above $72,000, passing through a triangular consolidation pattern
- The breakout opens the door for bitcoin to potentially climb to $80,000, according to analysis by 10x Research
- The triangle had resistance around $72,000 and support around $65,000
- The breakout coincides with a strong US jobs report boosting risk appetite across financial markets
- In technical analysis, symmetrical triangles typically end with bullish breakouts, unleashing pent-up energy from consolidation
