The BTC bulls are aiming for the milestone of $100,000, according to the Bitcoin Price Forecast🦬🦬🦬
At the beginning of last week, the price of bitcoin surpassed its 200-day Exponential Moving Average (EMA) at $85,000 and continued to rise by 11.14% until Friday.
However, Bitcoin was unable to close above its highest point in March, which was $95,000, and had a slight drop📉 over the weekend. Bitcoin (BTC) experienced a modest increase on Monday and tested the $95,000 mark again. At the time of writing this on Tuesday, it is stabilizing below this level.
Daily, if Bitcoin (BTC) breaks and closes above $95,000, it has the potential to extend the rally to retest its next daily resistance level, which is at $97,000.📈 Further gains could be extended to retest the psychological resistance level of $100,000 if it successfully closes above this level.🫣🫣🫣
After being rejected near its overbought level of 70 on Saturday, the Relative Strength Index (RSI) on the daily chart remains at 67. This indicates that the bullish momentum is beginning to fade. However, considering the current state of the market and the growing demand from both corporations and institutions, this could be a temporary pause or consolidation before the next stage of the bullish trend.😃😃😃$BTC
On the other hand, if Bitcoin cannot close above the resistance level of $95,000 and experiences a pullback, it may continue its downward trend until it reaches the psychological significance level of $90,000.
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