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Market Update: Bitcoin Nears Key Levels, Eyes $100K Target Bitcoin is currently trading above $95.8k, maintaining support around the 4-hour EMA200. A dip to $95k (Monday's high) could provide a solid opportunity for a rebound. Yesterday, BTC tested $98k but faced resistance within the previous range. If it re-enters this range, a move toward $100k could be in play. Traders will be watching closely for confirmation near these levels.
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Market Update: Bitcoin Holds Above EMA200, Targets $98K Bitcoin has managed to close a 4-hour candle above the 200 EMA, now sitting at $95.8k, which seems to be turning into support. The next resistance level is at $96.9k, marked by a bearish engulfing candle from last Friday. A break above this could pave the way for a move towards $98k at the very least.
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Market Update Happy New Year! Bitcoin continues to struggle through the holiday season, with limited movement and low volatility. The key levels remain the same: Support at $92k: This level is crucial for any further retracements. It must hold for Bitcoin to maintain its current range or push higher. Resistance at $96k (4hr EMA200): This is the major hurdle. The strong rejection from the EMA200 yesterday emphasizes its importance. A break above this level could be the first indication of a move to the upside. For now, the market remains stagnant, and itโs essential to watch for a decisive break above $96k or a hold of $92k for potential direction in the coming days.
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