Bitcoin ($BTC ) is making headlines as it inches closer to the psychological milestone of $100,000. Currently trading at $98,119.98, BTC has gained 4.25% in the past 24 hours, with its impressive uptrend showing no signs of slowing down.
Key Levels to Watch
Recent movements highlight a strong support zone around $93,000, while immediate resistance sits at $99,487. A breakout above this level could see BTC test the $100,000 mark, with analysts eyeing $108,000 as the next target.
Conversely, failure to hold $93,840 might lead to a retest of the critical support at $91,328, providing a possible accumulation opportunity for traders.
Bullish Momentum Remains Strong
BTC’s long-term moving average (MA 99) at $69,502 indicates a sustained bullish trend, with its medium-term support (MA 25) at $86,155 offering a safety net for longer-term investors. The current consolidation above $90,000 suggests that buyers remain firmly in control.
Trading Strategies
Swing Traders: Accumulate near $93,000, targeting $100,000, with a stop-loss below $91,000.
Breakout Traders: Enter above $100,000, aiming for $108,000 - $110,000.
Long-Term Investors: Consider buying dips near $86,000 for a long-term target of $120,000+.
Future Outlook
If bullish momentum holds, Bitcoin could soar to $120,000 within months, with potential for $150,000 by 2025 as macroeconomic conditions continue to favor digital assets.
As Bitcoin inches closer to the historic $100K level, all eyes are on the charts. Will this be the breakout everyone’s been waiting for? Stay tuned.
Disclaimer: Cryptocurrency investments carry risks. Always conduct thorough research before trading or investing.
