💵 Predictions for BTC at $120,000 have surged sharply since Trump's inauguration
There has been a spike in interest on exchanges for the call option on BTC at $120,000, which currently amounts to $1.52 billion.
🌐 According to the director of Amberdata, the bullish momentum is driven by favorable sentiment surrounding Trump's cryptocurrency position.
Technical analysts are observing 2 potential scenarios for BTC:
1️⃣ BTC has recently repeated the Wyckoff accumulation model, last seen during the FOMC rate cut. Holding the support level at $90,800 with possible wicks down to $86,500 will confirm the upward trend.
2️⃣ The resistance level at $102,760 requires a decisive breakout with strong volume to confirm further growth. Movement above this level could push BTC to $110,000 and above in the coming weeks.