Analysis and forecast of Bitcoin (BTC) at the beginning of the week

Next week, Bitcoin (BTC) may experience significant fluctuations based on recent technical analyses. Currently, the price of BTC is trading around $98,443.46 with a market capitalization of approximately $1.95 trillion USD. The recent increase and the surpassing of the historical peak indicate strong demand from investors, although there may be short-term corrections in the coming week.

Analysis shows that the moving average (MA) on the weekly time frame is indicating a strong uptrend. Both the 50-day MA and the 200-day MA are below the current price, creating strong support levels in case of price corrections. However, the RSI (Relative Strength Index) indicator is currently in the "overbought" zone, which may lead to a short-term correction or a loss of upward momentum if sell signals appear.

However, if BTC maintains buying pressure and surpasses the important resistance level at $98,000, it may continue its rapid upward trend, with some forecasts suggesting it could reach $100,000 by the end of 2024. Short-term forecasts call for investors to be cautious and prepare for risk management measures to protect profits during this time.