$BTC

Bitcoin Hitting $100K?

### Key Technical Indicators

1. **Ascending Channel Breakout**

Over the past months, Bitcoin maintained a clear ascending channel, consistently forming higher highs and higher lows. The breakout above the $90,000 resistance zone confirmed bullish momentum, setting the stage for the final push to $100K.

2. **Volume Surge**

Trading volume increased significantly as Bitcoin approached $100K, indicating strong buying pressure. Institutions and retail investors alike entered the market, creating a perfect storm for an upward breakout.

3. **RSI Momentum**

Despite being in overbought territory, the Relative Strength Index (RSI) showed sustained strength above 70, signaling a healthy bull run rather than exhaustion.

4. **Golden Cross Confirmation**

The 50-day moving average crossing above the 200-day moving average several weeks ago was a major bullish signal, attracting long-term investors.

### Market Sentiment and Fibonacci Levels

Bitcoin’s rally aligned with the 1.618 Fibonacci extension level from the previous bull cycle, a key psychological and technical target for traders. Coupled with positive sentiment around adoption and macroeconomic uncertainty, BTC accelerated its climb.

### What’s Next?

While $100K is a monumental achievement, Bitcoin’s current price suggests the possibility of short-term consolidation. Traders should watch for support at $95K and resistance around $105K. A successful hold above $100K could open doors to $120K in the next wave.

This Thanksgiving, BTC has proven that disciplined technical analysis and patience can lead to extraordinary outcomes. As always, manage risk and trade wisely in these volatile markets.

*Disclaimer: This is not financial advice. Perform your own analysis before investing.*