Bitcoin jumps 9% to a new all-time high as Trump’s victory fuels strong bullish sentiment

Bitcoin led gains in post-election trading on Wednesday, surging 9% in direct response to Trump’s victory. The strong rally pushed prices to a new record high of 75,411 before some profit-taking pulled the price back to 72,700, the lower end of its consolidation range.

Major bullish momentum remains intact, with Bitcoin gaining a strong boost from Trump’s win, as his campaign emphasized support for the cryptocurrency market. A return above the 74,000 level (psychological resistance and upper channel boundary) suggests the recent corrective phase may be ending.

Closing above the channel’s resistance trendline would reinforce the bullish outlook, supported by robust positive momentum and a fully bullish alignment of moving averages.

The broken channel resistance at 73,900 has now become the first support, followed by the upper Bollinger Band at 72,930 and consolidation floor at 72,700, which protect the main support level at the psychological 70,000 mark.

A breakout beyond the recent record high could target levels at 76,231, 77,847, and 77,850 (Fibonacci projection), with the 80,000 level serving as a key psychological milestone.

Res: 75411; 76231; 77847; 77850
Sup: 73900; 72930; 72700; 72000