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

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