In the evening of November 29, the price of bitcoin ($BTC ) moved towards the level of $98,000, and now technical indicators point to a strong upward momentum for the main cryptocurrency across several timeframes.
The hourly chart of bitcoin shows a strong upward trend characterized by higher highs and higher lows. The recent consolidation around $94,000–$96,000 ended with a breakout to the upside, fueling a rally above $98,000. The buying pressure, indicated by the spike in volume on this green candle, suggests sustained bullish interest.
Short-term resistance is at the level of $99,000, a psychologically important threshold before the key level of $100,000. Traders looking for an entry may target pullbacks to the $96,500–$97,000 zone, with an exit strategy at levels of $99,000–$100,000.
