Don't rush to sell! And definitely don't short!
The next trend of Bitcoin (BTC) depends on how the current price moves, where the resistance is, and what the market sentiment is like. Let's briefly discuss technical and market analysis:
Short-term small target
Psychological barrier: $100,000
Why? Bitcoin is about to touch the psychological resistance level of $100,000, and at this time, the market usually has some significant movement.
What to pay attention to? There may be traders who will take their profits and run, so the resistance is considerable.
Next resistance levels
$105,000 to $109,000
Why? Analysts have calculated that based on Fibonacci extension and historical prices, $109,000 is a short-term technical target.
What’s the situation? If Bitcoin can steadily break through $100,000, then this will be the next resistance level to challenge: $120,000 to $125,000
Why? If institutions buy a lot and the momentum is good, BTC could rise further, especially when there is no significant selling pressure.
What to pay attention to? Keep an eye on trading volume to see if the upward trend can be sustained.
Factors affecting the price
Bitcoin halving (April 2024)
Historically, after halving, Bitcoin often rebounds due to reduced supply.
In the first few months post-halving, the target could exceed $100,000 to $120,000. Market sentiment
If institutions show more interest in Bitcoin ETFs, then reaching $150,000 or even higher is not out of the question.
First small target for 2024-2025
Conservative: $100,000 to $109,000 Bullish point: $120,000 to $150,000 (if the momentum continues post-halving)
In summary: The short-term target for Bitcoin is $100,000, and the next challenges are $109,000 and $120,000.
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