Bitcoin's price has achieved a remarkable milestone, reaching the $100,000 level. This marks a new phase in the crypto market, showcasing a potential upward trajectory for Bitcoin. The price rose after clearing resistance levels at $97,500 and $98,000, driven by bullish momentum.
Currently, Bitcoin is trading below $98,500 and the 100 hourly Simple Moving Average. However, the outlook remains positive, with resistance expected at the $100,000 level. A sustained move beyond $102,000 could further propel the price to $105,000 and even $108,000.
Despite the bullish momentum, if Bitcoin encounters a downside correction, immediate support is anticipated near $98,800 and $96,500. Technical indicators show the MACD in a bullish zone and the RSI above 50, which may support further gains.
Source: www.newsbtc.com ↗