Trader: The next target for BTC is around $112,000

Skew, a well-known trader, mentioned that the current market supply and demand is balanced, and there are so-called 'passive buyers' supporting the price. He also pointed out that on Binance, the world's largest cryptocurrency exchange, both buyers and sellers are quite active around the $97,000 position.

Another trader, Roman, looks at the daily chart and feels that the Relative Strength Index (RSI) has completely reset, which could be a signal indicating that Bitcoin might experience a strong rally, with a target price around $112,000.

Trader Johnny also mentioned that Bitcoin has bounced multiple times around $95,000, showing strong support at this price level, and it may continue to rise in the future.

Chart analyst Upadhyay believes that Bitcoin's price has strongly rebounded from the 20-day moving average (around $96,133), indicating that the bullish strength is still quite strong. If it can break through the resistance range of $101,351 to $104,088, then the upward trend will be even more clear. By that time, Bitcoin might challenge $113,331 or even the significant $125,000 mark.

However, he also cautioned that if the price falls below the 20-day moving average, it might trigger some sell-offs for profit, causing the price to retreat to around $90,000. Therefore, the $90,000 position is critical, being a focal point for both buyers and sellers, and also an important support level.

Overall, several analysts are quite optimistic about Bitcoin's future trend. Although the market may experience some fluctuations in the short term, the overall trend still leans towards bullish.