#BTC Bitcoin (BTC) is currently trading at approximately $94,987.Over the next seven days, the outlook appears bullish.The cryptocurrency has recently broken out of a four-month falling wedge pattern, closing above the 200-day moving average, with a Relative Strength Index (RSI) above 50, indicating positive momentum .
Analysts suggest that if BTC maintains support around $85,000, it could target $100,000 or higher in the coming week . Geoff Kendrick from Standard Chartered forecasts a potential rise to $120,000 in Q2 2025, driven by factors such as economic uncertainties and increased institutional interest .
However, caution is advised.Weak trading volumes and potential resistance near $100,000 could lead to short-term pullbacks.Investors should monitor key support levels around $85,000 and $76,000 to assess market stability.
In summary, while the technical indicators and market sentiment are favorable, investors should remain vigilant of potential volatility and adjust strategies accordingly.