🚀Bitcoin at $96K🔥
Is $100K Next ???
$BTC Analysis 02/01/2025
Bitcoin (BTC) is trading at $95,529, showing a modest 1.97% increase today, and it’s inching closer to the psychological milestone of $100,000.
Let’s break down the 4-hour chart and see what the data tells us about where BTC could head next.
📊Chart Analysis: Consolidation with Bullish Momentum
1. Key Support Levels:
$92,888 (24-hour low): A strong support zone where buyers have consistently stepped in.
$91,530: Another critical support level from the recent dip, showing buyers’ confidence in the $90K range.
2. Key Resistance Levels:
$96,000: BTC’s current resistance.
A break above this could lead to testing $99,231 and potentially the $100K milestone.
3. Bullish Patterns:
BTC is forming higher lows and gradually moving upward, a sign of accumulation and buyer dominance.
A potential ascending triangle pattern is forming, indicating a bullish breakout if $96,000 is breached.
4. Volume Insights:
The 24-hour trading volume is solid at 12,952 BTC, showing healthy activity.
Increased volume during upward moves suggests strong buyer participation.
Why Is Bitcoin Bullish?
1. Market Momentum: BTC has gained 112.45% in the last year, maintaining its upward trend.
2. Institutional Interest: Large institutions continue to support Bitcoin as a store of value.
3. FOMO Ahead of $100K: As BTC approaches the key psychological level, trader excitement is pushing prices higher.
💲Price Prediction :
Short-Term: BTC breaking $96K could open doors to $99,231 and a test of the $100K level soon.
Long-Term: Sustained bullish momentum could push BTC to $105K-$110K if key resistances are cleared.
Bitcoin is showing signs of strength, consolidating near critical levels, and gearing up for a potential breakout.
Traders should watch the $96K resistance closely—breaking it could signal a sharp move toward $100K.