Bitcoin Price Analysis: BTC Breaks $100,000, Will the Next Target Be $120,000?

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As investors prepare for potential gains, the price of Bitcoin is about to break the $100,000 resistance level.

Technical analysis shows that since rebounding from $52,000, Bitcoin has consistently reached new highs and has surpassed the $100,000 resistance level. The RSI indicates bullish momentum, possibly advancing towards $120,000.

The 4-hour chart shows the market within a large ascending channel, potentially reaching $105,000 in the short term.

On-chain analysis indicates that American investors are the main force driving market trends.

The premium index shows that the buying pressure after the U.S. elections over the past few months has driven the market up. As long as this indicator remains positive, BTC is expected to rise further.

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