Bitcoin’s (BTC) price has surged past the moving average lines following a robust rebound. In recent times, Bitcoin’s price has surpassed important moving average lines, going past $100,000 and briefly hitting $109,590. Resistance around $104,000 has, however, dampened the rising momentum. Bitcoin is currently showing a little upward trend, trading above support levels but below resistance. Bitcoin Continues, Here, we see price action confined between two moving averages: the 50-day and the 21-day.
Bitcoin price long-term prediction bullish
With a surge over the moving average lines, the largest cryptocurrency surpassed $100,000. The ascent, however, came to a standstill at $104,000. The positive momentum kept building on January 20, eventually topping $104,000 and hitting a high of $109,590. But Bitcoin’s price recovered to $109,590 and then dropped significantly beyond the $100,000 support level. This morning, Bitcoin’s price remained below the $104,000 resistance mark despite being above the moving average lines.
Currently, the largest cryptocurrency is gradually increasing in value. Overcoming the barrier could lead to a price of $116,000 for purchasers. Bitcoin will have to trade in a range above the moving average lines if buyers can’t get it to $104,960 and $108,000, which are resistance levels.
Bitcoin indicator reading $109k
Bitcoin should gain as price bars are above moving average lines. Long candlestick wicks point to $109,000 on January 20. At $109,000, the lengthy candlestick wick suggests strong selling pressure. Bitcoin’s 4-hour chart shows its range-bound between the moving average lines. Bitcoin recently crossed $109,000, indicating bullish momentum. Favorable macroeconomic factors, institutional adoption, and supply constraints boost investor confidence.
Demand at this price level. Regulatory clarity and Bitcoin’s growing usefulness as a store of currency also drove the price spike. Some analysts expect Bitcoin to reach $160,000 by 2025. Bitcoin Continues, Bitcoin falls bullish, While volatility remains a concern, Bitcoin’s persistence in reaching new highs fuels market excitement, solidifying its status as a digital currency leader.
What is the next move for BTC/USD?
Bitcoin is caught above the 50-day SMA support but below the 21-day SMA resistance on the 4-hour chart. Bitcoin will plummet if bears break the 50-day SMA. Bitcoin will tumble and test $90,000. However, Bitcoin will rise again after breaking above the 21-day moving average. The recent oscillations will continue if the 21- and 50-day SMAs hold. Market mood, institutional involvement, and macroeconomic developments will likely influence BTC/USD’s future move.
If Bitcoin stays above $100,000, it might reach $120,000 to $130,000 and so on. However, market corrections or regulatory news might boost volatility and cause a drop to $90,000. Bitcoin Continues, Bitcoin retreats bullish, but many analysts expect it to hit $160,000 before 2025. Bitcoin’s price will fluctuate rapidly as usual.
Summary
In recent times, Bitcoin’s price has surpassed important moving average lines, going past $100,000 and briefly hitting $109,590. Resistance around $104,000 has, however, dampened the rising momentum. Bitcoin is currently showing a little upward trend, trading above support levels but below resistance. Important levels between $90,000 and $116,000 are ensnaring the price between the 50-day and 21-day moving averages. Although short-term fluctuations are anticipated due to market volatility and regulatory developments, analysts remain bullish and predict that Bitcoin could reach $160,000 by 2025. Overcoming resistance or encountering possible corrections will determine the future path of the coin.
