Bitcoin maintains bullish momentum above $90,000.
Analyst assesses BTC’s potential to retrace before reaching $100K.
Retracing before surging to $100K is not sacrosanct for Bitcoin.
Bitcoin (BTC) remains bullish despite retracing slightly from its new all-time high of $93,483. The cryptocurrency pulled back after reaching new heights but is holding above $90,000 amid speculation of a potential pullback before heading toward $100,000.
In a recent podcast, a cryptocurrency analyst highlighted the potential implications of Bitcoin continuing upward without retesting recent support of around $87,000. The analyst explained the risks involved, citing Bitcoin’s potential to eventually drop to the identified support even after claiming the $100,000 landmark.
The analyst identified $100,000 as a psychological level where the cryptocurrency could experience a pullback. He believes that retesting the $87,000 support before surging to $100,000 would reduce Bitcoin’s retracement risk. A dip from the current price would allow bulls to reinvest and accumulate more.
Bullish Sentiment Remains
The crypto analyst believes the overall Bitcoin sentiment remains bulli…
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