$BTC

Bitcoin is facing resistance near the psychologically crucial $100,000 level, but a positive sign is that the price remains above the uptrend line.

The rising 20-day exponential moving average ($92,114) and the relative strength index (RSI) in the positive territory indicate that the bulls are in control. This increases the probability of an upside breakout above $100,000. If that happens, the BTC/USDT pair could rally to $113,331 and then to $125,000.

Sellers will have to pull the price below the 20-day EMA to weaken the bullish momentum. The pair could then drop to $85,000, which is likely to attract buyers.

The moving averages on the 4-hour chart have flattened out, and the RSI is just above the midpoint, indicating a balance between supply and demand. The pair may consolidate between $100,000 and $90,000 for some time.

A break and close above $100,000 indicates that buyers have absorbed the selling pressure. This may start the move towards $113,331. Conversely, a break below $90,000 may tempt short-term buyers to book profits, pulling the price towards $85,000.