Bitcoin (BTC) continues to captivate investor attention, particularly with its recent price dynamics. The article explores outlooks, key support and resistance levels.
BTC/USD Long-term Trend: Bullish
Bitcoin shows resilience in the long-term perspective, successfully maintaining around $96,300. This benchmark is tested by the market, indicating sustainable support and highlighting market resilience. The current moving-average alignment suggests potential short-term consolidation before a possible move south.
Bitcoin Price Prediction: Possible Slide
From a technical standpoint, for Bitcoin to continue its bullish trend, it needs to overcome the resistance around $99,000. In the absence of such a breakthrough, sideways trading is possible, with a potential slide down to support levels at $85,000, $80,000, and $75,000.
BTC/USD Medium-term Trend: Ranging
On the 4-hour chart, Bitcoin reflects a descending channel. A breakout above $105,000 may signal a shift in trend. However, there is a risk of accelerated decline should the crucial support level of $90,000 be breached.
Bitcoin continues to draw attention from analysts and market participants. The current situation highlights the importance of monitoring key support and resistance levels to adapt effectively to evolving market conditions.
