My Bitcoin Buy Target Just Moved Up to 78K
My Bitcoin Buy Target Just Moved Up to 78K
12 hours ago•VirtualBacon•@virtualbacon
YouTube5 min 39 sec
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Note: AI-generated summary based on third-party content. Not financial advice. Read more.
Quick Insights

Bitcoin (BTC) has officially entered a new bull market after breaking out past $82,000, signaling strong upward momentum expected to last over the next 12 to 18 months. Investors looking to enter should adjust their dip-buying targets to the $77,800 to $78,000 support range, as previous targets in the low $70,000s are no longer expected to hit. This $77,800–$78,000 zone serves as key technical support and offers the most favorable entry point during upcoming pullbacks. Maintain a long-term bullish strategy and avoid short positions or waiting for steep discounts, as price rarely drops back below major moving averages after a confirmed breakout.

Detailed Analysis

Bitcoin (BTC)

  • Bitcoin has officially broken its multi-month weekly downtrend that began on October 10th by clearing above its 50-week Simple Moving Average (SMA) and establishing a new weekly higher high above $82,000 (reaching up to $85,000–$86,000).
  • The broader market setup has officially transitioned into a confirmed bull run, which is expected to last for at least the next 1 to 1.5 years.
  • Previous dip-buying targets in the $66,000, $70,000, and $74,000 ranges are no longer valid, as historical price action indicates price rarely drops back below the 50-week moving average after such a clean breakout.
  • The primary support zone during any upcoming pullback is the band between the 50-week EMA ($77,800) and the 50-week SMA ($78,000).

Takeaways

  • Adjust Dip-Buy Target to $78,000: Investors waiting on the sidelines to enter should target the $78,000 level (down to $77,800), as this represents the healthiest pullback level expected in this current structure.
  • Maintain a Bullish Stance: Avoid short positions or expecting major drops back into the low $70,000s, aligning strategy with a long-term bullish outlook over a 12- to 18-month timeline.
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Video Description
Bitcoin closed the week above its 50-week moving average and then pushed straight through the previous lower high at 82,000, which breaks the weekly downtrend that has run since the October 10 crash. Because 85,000 clears 82,000 even as a wick, the downtrend stays broken whatever happens next week. That changes where the dip is worth buying. The target is now 78,000, the level where the 50-week simple and exponential averages sit, and no longer 70,000, 74,000 or 66,000. A pullback below that band has basically never happened after a clean weekly breakout of this shape. ---------------------------------------------------- All Exchanges and Links ✅ FOMO Social Trading: https://bacon.link/fomo (Follow my real on-chain trades live. Real money on my actual account, so you see exactly what I hold, my size, and my entries) ✅ Toobit Exchange: https://bacon.link/toobit ($50 Free Bonus, No Verification Required) ✅ PropW: https://bacon.link/propw (Trade a $50K Funded Account) ✅ Bitunix Exchange: https://bacon.link/bitunix ($5,500 Bonus, no KYC) ✅ ByBit Exchange: https://bacon.link/bybit ($30,000 Bonus, KYC Needed) 🧰 Toobit Agent Trade Kit (connect an AI agent to the exchange): https://www.toobit.com/agent-tradekit 💎 Join The Coiners, our Trading Dashboard and Community: https://thecoiners.io 📢 Follow my X for Quick Alpha: https://x.com/virtualbacon 📢 Telegram, the daily market briefing and live alerts: https://t.me/virtualbacon 📢 Courses, Exchange Guides, and All Links: https://virtualbacon.com/ ----------------------------------------------------- My Other Videos 8 Years of Crypto Trading Advice in 40 Minutes 👉 https://youtu.be/p9iEJgFReB8 Crypto Investing for Beginners, Full Course 👉 https://youtu.be/niT7g4ghm3o ----------------------------------------------------- Chapters 0:00 Every Indicator Confirmed the Breakout 1:34 Why 78K Is the New Buy Target 3:44 Why 74K Is Off the Table ----------------------------------------------------- 📜 Disclaimer 📜 The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome. #Bitcoin #BTC #BullRun #Crypto #CryptoNews #VirtualBacon #BitcoinPrice #BitcoinAnalysis #Altcoins #NEAR #Zcash #PrivacyCoins #Monero #Fed #InterestRates #Nasdaq
About VirtualBacon
VirtualBacon

VirtualBacon

By @virtualbacon

I'm Dennis, a Crypto angel investor with 100+ startups in our portfolio. On this channel I share my views on market trends and investing strategy for Crypto.