Bitcoin has reached $100,000, facing hurdles beyond this mark. Analysts warn of potential barriers and ongoing volatility.
Current Market Situation
After recovering from recent two-month lows, Bitcoin’s future remains uncertain. According to Stockmoney Lizards, BTC/USD is likely to remain rangebound for several weeks.
Resistance Analysis at $102,000
Analysts highlight that the $102,000 level will be a challenging barrier. Resistance lines, like the 1.618 Fib Extension located at the 91-92k range, might play a crucial role. The current BTC price, around $99,000, is supported by positive US inflation data.
Diverse Trader Opinions
Other analysts also emphasize the challenges at $102,000. Popular account BigMike7335 noted the necessity to flip $102k into support. Meanwhile, some traders are optimistic, pointing to the invalidation of a bearish 'head and shoulders' pattern.
Based on current data and analyses, Bitcoin may continue trading in the 90-100k range, though scenarios remain varied due to weak market confidence.
