Bitcoin's price rose by 1.4% over the last 24 hours, reaching $99,217. The market sees rising trading volumes and a potential bullish rally.
Current Bitcoin Price Trends
Over recent months, the price of Bitcoin has shown a remarkable upward trend. This was supported by a breakout above the 200-day Simple Moving Average (SMA), signaling a shift from bearish to bullish momentum. Late October saw a strong rally into November, reinforcing the support level at the 50-day SMA ($97,254) during December's consolidation. Horizontal resistance around $101,000 remains until conclusively broken. Strong buying support around $95,000 may provide a base for further growth.
Bitcoin Forecasts
According to trend and indicator analysis, a breakout above $100,000 is possible if volumes increase and momentum builds. The recent consolidation above the 50-day SMA and robust support at around $95,000 offer a solid foundation for bulls. If Bitcoin breaks through, the next significant resistance levels are $110,000 and $115,000. However, should Bitcoin not maintain support at $97,000–$95,000, a correction to the 50-day or even the 200-day SMA may occur.
Best Wallet Presale Stages
Best Wallet is a non-custodial crypto wallet requiring no KYC and features advanced security and Best DEX. Investors can stake BEST tokens for a 308% annual return. The presale has already raised over $6.5 million.
Bitcoin shows steady progress amid Metaplanet's plans and current market trends. Future developments depend on trading volume consolidation and investor sentiment.
