This article is also available in Spanish.
Crypto Trade analyst PSH reveals major Bitcoin support levels to watch out for as BTC bulls push for rally psychologically $100,000 level. The analyst also revealed what price levels Bitcoin can reach in the short term as it breaks above $100,000.
Bitcoin Support Levels To Watch Out For As Bulls Push For $100,000
In a TradingView postTrade PSH said the area limit is $99,450 as the bulls repeatedly try to push the price above $100,000. The crypto analyst also pointed out that the nearest key support area comes between $95,000 and $96,600. This is in line with a recent Bitcoinist report highlighting the $96,000 level as an important support point.
Related Reading
While the price of Bitcoin is moving above this support area, Trade PSH said that the main condition is the continued growth of the main crypto. If Bitcoin maintains an uptrend and finally breaks above logic $100,000 levelThe crypto analyst predicts that the growth goal is between $102,000 and $102,757.
Based on the current price action, the analyst suggested that Bitcoin could meet at $108,366. This will mark the new all time high (ATH) for the leading crypto, as its current ATH is $108,268. Meanwhile, Trade PSH indicated that a drop below $94,300 would end this trade setup.
The chart accompanying the analyst showed that the price of Bitcoin may break above $100,000 and reach these short-term goals before the end of the year. While that remains to be seen, it is fair to say that January 2025 provides a bullish outlook for the flagship crypto.
Pro-crypto Donald Trump it is expected to go into effect on January 20, which could lead to the creation of a Strategic Bitcoin Reserve. Historically, Bitcoin also enjoyed a price recovery in January 2021 of the last bull run. Thus, history can repeat itself.
BTC Heads Up
In X post, crypto analyst Crypto Titan and gave a bullish view on the price of Bitcoin, implying that the crypto-flagship is headed higher. His accompanying chart showed that Bitcoin could rally to $158,000 in May 2025. The chart also showed a target price above $220,000, suggesting that the main crypto could rally even further.
Related Reading
Crypto Titan refers to a bullish pennantthey suggest that it is still playing on the price of Bitcoin. This huge pennant is formed on a monthly basis, and if it plays well, the crypto analyst is sure that Bitcoin will enjoy a parabolic rally of this price target.
At the time of writing, the price of Bitcoin is trading around $98,100, down from the last 24 hours, according to the data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
Source link