Retraction from Psychological Resistance ($100,000)

The chart signals strong bullish momentum, with the breakout above the ascending channel reinforcing upward bias. Traders should focus on buying pullbacks or trading breakouts while being mindful of potential overbought conditions. Risk management is crucial as the price approaches psychological resistance levels.

Bitcoin is likely to rally to at least $100,000 before a significant retracement to $60,000. If momentum persists, it could overextend to $110,000-$115,000. However, overbought signals suggest caution, watch for reversal patterns and volume trends to confirm a retracement.