#BTCNextMove Bitcoin, currently trading around $97,000, has experienced a pullback after hitting a record high of $108,000. Despite this correction, the cryptocurrency remains on an upward trajectory, thanks to support from its 50-day exponential moving average (EMA). The next major resistance level stands at $104,000, and a successful breach could propel Bitcoin toward $120,000. Conversely, failing to hold above $92,000 may trigger a deeper correction.

Optimism surrounding Bitcoin stems from increasing institutional adoption, robust inflows into Bitcoin exchange-traded funds (ETFs), and the anticipated 2024 halving event. On-chain data indicates that long-term holders are accumulating Bitcoin, reflecting their confidence in its long-term prospects. While market sentiment remains largely bullish, Bitcoin's future trajectory will depend on breaking through key resistance levels and the impact of broader economic factors, such as Federal Reserve policies.

As we approach 2025, investors should monitor Bitcoin's price action closely, watching for either a breakout above resistance or further consolidation.