Bitcoin Is Ready To Rise
Bitcoin rose from $92,300 to $99,400 on Christmas Eve, delighting investors. BTC is poised to test $100,000 as the price maintained a significant demand level, reigniting bullish confidence. Market investors are eyeing Bitcoin's next move for further momentum in the coming days.
Famous analyst Carl Runefelt highlighted Bitcoin's hourly symmetrical triangle in his technical analysis on X. Runefelt thinks BTC is about to burst out after this consolidation pattern.
Bitcoin's route to $100,000 is clearer than ever with robust demand and technical signals aligning for a breakthrough. Traders are concerned because short-term volatility may persist. As the dominant cryptocurrency approaches a crucial period, investors seek confirmation of a fresh leg in its historic bull run.
Bitcoin Is Ready To Rise
Bitcoin remains optimistic after holding important demand levels, preparing for another price discovery rise. This resiliency shows the market's trust in BTC's capacity to pass $100,000 and rise, with experts and investors keenly watching its price behavior.
Top analyst Carl Runefelt recently highlighted a symmetrical triangular formation on Bitcoin's hourly chart in his technical analysis on X. Symmetrical triangles signal stabilization before a breakthrough, and Runefelt believes BTC will rise.
He said that breaking $100,700 would signify significant bullish momentum, perhaps pushing Bitcoin to new highs. He warned that a decline below $95,200 would indicate weakness and a short-term negative trend.
The dominant cryptocurrency remains stable, with all sights on $100,700. Bitcoin might restart its bull run if it breaks this barrier, underlining its dominance in the crypto industry.
Bitcoin is now at $98,400, up 7% from its local low of $92,000. This rebound shows continued bullish momentum as the price reclaims the 4-hour 200 EMA, a significant short-term signal. BTC has a major challenge in breaking over the 4-hour 200 MA at $98,470.
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