$BTC As of January 4, 2025, the cryptocurrency market is exhibiting significant bullish momentum, with Bitcoin (BTC) approaching the $100,000 milestone
Market Overview:
Bitcoin (BTC): Currently trading around $98,289, Bitcoin has shown a 1.27% increase from the previous close, with intraday movements between $96,001 and $98,978. Analysts predict a potential rise to $225,000 by 2025, driven by historical price cycles and increased institutional adoption.
Ethereum (ETH): Trading at approximately $3,612, Ethereum has experienced a 4.80% increase, with intraday highs of $3,623 and lows of $3,420. Predictions suggest a 16.32% rise in the next 30 days, potentially reaching $4,039.
Support and Resistance Levels:
Bitcoin (BTC):
Support Levels:
First Support: $95,070
Second Support: $93,01
Resistance Levels:
First Resistance: $98,462
Second Resistance: $99,803
Ethereum (ETH):
Support Levels:
First Support: $3,500
Second Support: $3,400
Resistance Levels:
First Resistance: $3,650
Second Resistance: $3,700
Entry Point Consideration:
Bitcoin (BTC): A potential entry point could be near the first support level at $95,070, with a stop-loss slightly below the second support at $93,019 to manage potential downside risk.
Ethereum (ETH): Considering entering around the first support at $3,500, with a stop-loss below $3,400, could be a prudent strategy.
Short-Term Prediction:
Bitcoin (BTC): Over the next 24 hours, Bitcoin's price is expected to fluctuate between the first support at $95,070 and the first resistance at $98,462. A break above this resistance could signal a move towards $99,803. Conversely, a drop below the first support may indicate a decline towards $93,019.
Ethereum (ETH): Ethereum's price may range between the first support at $3,500 and the first resistance at $3,650. Surpassing this resistance could lead to $3,700, while falling below the support might result in a decline towards $3,400.
*Please note that cryptocurrency markets are highly volatile. It's essential to conduct thorough research and consider your risk tolerance before making any investment decisions.*