$BTC Price Prediction Bitcoin: BTC shows signs of bullish momentum
Bitcoin price shows potential for a rally ahead
Bitcoin price found support around the 38.2% Fibonacci retracement level, drawn from the November 4 low of $66,835 to the December 17 high of $108,353, at $92,493 on December 30, 2024, and rose 6% in the next six days. This level roughly coincides with the 50-day Exponential Moving Average (EMA) at $98,182, making it a key zone. At the time of writing on Monday, BTC trades at around $101,400.
If BTC continues the upward momentum, it could extend its rally to retest its key psychological importance level of $100,000. A successful close above that level would extend an additional rally to retest its December 17, 2024, all-time high of $108,353.
However, if BTC closes below the $92,493 level, it would extend the decline to retest its key support level at $90,000.
