Bitcoin Above $70k: Next Target $100k

Share IT

Bitcoin’s steady performance, along with large trading volumes, suggests a strong position as the leading cryptocurrency in the market.

Trends have reversed to Uptrend again after price price broke above $60K resistance and out of Symmetrical Triangle pattern

For on-demand analysis of any cryptocurrency, join ourย Telegram channel.


Bitcoin (BTC) Price Analysis

  • Current Price: $73,780
  • Market Cap: Approximately $1.45 trillion
  • 24-Hour Trading Volume: $40 billion
  • Circulating Supply: 19.5 million BTC
  • Total Supply: Capped at 21 million BTC
Bitcoin (Btc) Price Analysis

The price is currently facing rejection at the horizontal resistance zone. Watch closely for a potential breakout or breakdown.

Next Medium term target is $90k level.

Weekly Price Overview

Over the past week, Bitcoin has shown slight volatility but remains strong overall. Price fluctuations have seen a low near $69,000 and a high approaching $73,800.

Trend: Short-term trend is Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.

Momentum:ย Price is neither overbought nor oversold currently, based on RSI-14 levels.

Support and Resistance: Nearest Support Zone is $56,500.00, then $50,000.00. Nearest Resistance Zone is $72,000.00.

Key Indicators

  • Relative Strength Index (RSI): Currently near 63t.
  • Moving Averages: The 50-day MA sits below the 100-day MA.

News Roundup

Recent discussions center around Bitcoinโ€™s adoption among institutions as a reliable store of value, alongside increasing interest due to inflationary concerns globally.

Regulatory developments are in focus, with analysts watching for impacts on the cryptoโ€™s near-term performance.

For on-demand analysis of any cryptocurrency, join ourย Telegram channel.

Share IT
Harsh Panghal
Harsh Panghal

Get Daily Updates

Crypto News, NFTs and Market Updates

Can’t find what you’re looking for? Type below and hit enter!