Bitcoin experienced fluctuations last week, rising to $87,400 before a 4% drop. However, analysts believe it could still reach the $100,000 mark.
Credible Crypto Analysis
Renowned crypto analyst Credible Crypto believes Bitcoin is approaching a critical point. He mentioned the $88,000 resistance zone as a key level to watch. If Bitcoin can surpass this, it may unlock the path to a six-figure range. Credible Crypto also noted that the $78,000 support could aid Bitcoin in gaining new strength.
Market and RSI: Rekt Capital's View
Another respected analyst, Rekt Capital, pointed to a significant technical signal: Bitcoin’s Relative Strength Index (RSI) has broken out of a prolonged downtrend. This could indicate a return of bullish momentum. Rekt Capital also commented that breaking through $88,500 might bring BTC back into an accumulation range.
What to Expect Next?
The coming days will be crucial for Bitcoin holders and crypto investors. Whether Bitcoin rebounds to six figures or faces another decline will depend on market sentiment, macroeconomic conditions, and technical confirmations.
Therefore, despite recent fluctuations, analysts are confident that Bitcoin might be on the brink of a significant leap, and it's important to keep an eye on key support and resistance levels.
