Technical analysis of BTC on November 23, 2024

Bitcoin is in a strong upward trend, but the momentum may face resistance at the psychological level of $100,000.

If the buyers do not give up much, it indicates that they expect the price to continue to rise. If it surpasses $100,000, the BTC/USDT pair may advance to $113,331 and then to $125,000.

The first sign of weakness will appear if the price breaks and closes below the upward trend line. This could lead short-term traders to take profits, pulling the price back to the 20-day EMA at $86,473. If it breaks and closes below the 20-day EMA, the bears may make a comeback.