Bitcoin is at a standoff at the 95,000 USD level. The elected President of the United States, Donald Trump, nominated Stephen Miran as the Chairman of the Economic Advisory Council, which the industry sees as a positive development for the crypto sector.
Cathie Wood, the founder of asset management company Ark Invest, predicts that due to the pro-cryptocurrency policies of the incoming Trump administration, Bitcoin's price could reach 1 million USD by 2030. Trump's son Eric Trump also stated that due to supply scarcity, Bitcoin's price will reach 1 million USD.
Bitcoin Technical Analysis
CoinTelegraph notes that Bitcoin rebounded from the 50-day simple moving average of 92,901 USD, but the recovery faced selling pressure at the 20-day exponential moving average of 98,758 USD.
As both bulls and bears attempt to gain the upper hand, Bitcoin may consolidate between moving averages. A breakout above the 20-day moving average would indicate that the correction may have ended. Then, Bitcoin could retest the historical high of 108,353 USD. A breakout and close above this resistance level could open the next round of upward trend, with a peak price of 113,331 USD, followed by 125,000 USD.
Conversely, a break and close below the 50-day moving average may trigger a deeper pullback towards 85,000 USD. This is an important level that bulls need to defend, as a drop below this level could open the door for a fall to 73,777 USD.
Both moving averages on the 4-hour chart are trending down, and the RSI is in the negative region, indicating that sellers are dominant. A break and close below the support level of 90,000 USD may signal the beginning of further pullback towards 85,000 USD.
The first strong signal would be a breakthrough and close above 100,000 USD. Bitcoin may climb to 105,000 USD and then rise to 108,353 USD. Sellers are expected to defend this level with all their might, as failure in their efforts could allow Bitcoin to resume its upward trend.
Layout of 3 altcoins below 0.10 USD with a 100x return potential!
1.JASMY
Jasmy Coin, built on the Ethereum ecosystem, is an IoT-based project and a provider headquartered in Tokyo. By combining IoT technology with blockchain technology to restore and protect personal data, allowing users full control over their personal information, JASMY's price is attracting attention.
By continuously setting new highs, the price of Jasmy Coin has formed a strong bullish price trend on the weekly timeframe. This highlights the high possibility of this cryptocurrency project moving towards its target price of 0.10 USD.
2.BABYDOGE
This crypto project is the leading community memecoin on the BNB chain. Notably, Baby Doge was created to help spread awareness about animal adoption. By donating dog food worth over 81,000 GBP, BabyDoge is the only one to hold the official world record for saving dogs.
It is noteworthy that this meme coin has been very volatile since its inception, highlighting its strong price movements in the cryptocurrency space.
Due to a successful listing on top global cryptocurrency exchanges, the price of BABYDOGE is currently severely undervalued. The project may drop 1-2 zeros during this bull market.
3.RSR
The Reserve protocol is built as an 'ERC-20' token with two main purposes: staking and governance. Notably, the Reserve Rights (RSR) token was launched in May 2019 after successfully conducting an Initial Exchange Offering (IEO) on the Huobi Prime cryptocurrency platform.
Technical indicators show increased volatility, indicating that buying and selling pressure for this altcoin has intensified. Notably, bullish rises can be recorded over a longer timeframe, highlighting a positive outlook.
The acceleration of the adoption process of the Ethereum ecosystem may drive the value of this ERC-20 token to a new high in 2025. In an optimistic scenario, if the market is favorable to bulls, the price of Reserve Rights may reach up to 0.05 USD.