This article provides a technical analysis of Bitcoin's price action, highlighting key support and resistance levels, and discussing the potential for a breakout to $100,000.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.On the hourly chart, the price of BTC is going down after setting a local resistance level of $98,776. If bulls cannot seize the initiative shortly, one can expect a test of the support by tomorrow.On the bigger time frame, traders should focus on the nearest level of $99,514. If its breakout happens, there is a chance to see a price blast to the $100,000 zone and above.From the midterm point of view, bears have failed to maintain the decline after a previous bearish bar closure. However, it is too early to think about a fast reversal, as not enough energy has been accumulated yet.With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins. Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
BITCOIN PRICE ANALYSIS RESISTANCE SUPPORT BREAKOUT
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