$BTC
Bitcoin Price Analysis: The Key Moment to Break a Million!
Brothers, Bitcoin has recently been hovering around the psychological key level of 100,000 USD, and breaking through this position seems imminent, but the sellers are still desperately blocking it. The good news is that Bitcoin's price is still stubbornly holding above the upward trend line, and the buying power hasn't weakened!
Key Indicator Interpretation:
20-day Moving Average: Currently showing an upward trend, located at 92,537 USD, indicating a strong overall bullish sentiment in the market.
RSI Indicator: Positioned in the positive area, with buyers dominating, the probability of breaking the 100,000 USD resistance is further increased.
If the bulls successfully break through the psychological barrier of 100,000 USD, Bitcoin is expected to continue rising to 107,096 USD, and even aim for the next target of 128,000 USD! However, if the price is suppressed, the bulls must be cautious, as holding above the 20-day moving average (92,537 USD) is key. Once lost, this upward momentum may weaken, pulling back to around 85,800 USD to seek support.
Short-term Consolidation or Breakthrough?
The 4-hour chart shows that Bitcoin is currently consolidating within the range of 100,000 USD to 90,000 USD. The moving averages are flattening, and the RSI is slightly above the midpoint, indicating that supply and demand are currently close to balance.
Two Possible Trends:
Upward Breakthrough:
If the closing price can stay firmly above 100,000 USD, it indicates that buyers have fully absorbed the selling pressure, and the next targets will be 113,331 USD, or even 125,000 USD!
Downward Pullback:
If the price falls below 90,000 USD, short-term buyers may take profits, further leading to a price pullback to 85,800 USD.
Strategy Suggestions:
Breakthrough Long Position:
Focus on the 100,000 USD breakthrough point, and after stabilizing, consider following up with targets looking towards 107,096-128,000 USD.
Pullback Layout:
If the price drops below 90,000 USD or near 85,800 USD, consider building positions in batches at lower prices, waiting for the next wave of upward movement.