Will the current situation push Bitcoin to break $100,000? I don't think so, at least not in the short term; although $100,000 is within reach, there is a fundamental difference between $100,000 and over $99,000. No matter how you analyze it, whether bearish or shorting, it all feels weak; the only thing to do now is to wait.
Since Bitcoin rose from $67,000, there has been almost no major adjustment along the way, maintaining a strong upward trend. Early this morning, there was finally a pullback to $95,800, but it started to rise again, now challenging the $99,000 range. After four consecutive weekly gains, the upward space is continuously being compressed. It's not that I don't believe in Bitcoin's rise; rather, the distance to the $100,000 peak is facing resistance from both profit-taking by bulls and liquidations by bears, which will constitute short-term resistance to Bitcoin's price increase.
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