Looking at the Bitcoin chart, we can see a clear upward trend formed by two parallel ascending trend lines (green). Bitcoin's price has repeatedly tested and bounced off the lower trend line, indicating strong support.
Currently, Bitcoin is approaching the upper trend line, which coincides with a potential resistance zone around $105,000. This is a key psychological level, and breaking through it could pave the way for Bitcoin to conquer new heights.
Factors supporting the prediction:
Long-term uptrend: Bitcoin has maintained an uptrend for a long time, with no clear signs of reversal.
Solid support zone: The lower trend line has been tested multiple times, providing a solid foundation for the rally.
Positive fundamental factors: Growing interest from institutional investors, the development of the DeFi market, and favorable macroeconomic factors could continue to drive Bitcoin's price higher.
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