Resistance and Breakout Potential:
Bitcoin$BTC $ is confronting a critical resistance level at $98,000. A decisive breakout above this mark could trigger a rally toward a new all-time high, driven by bullish momentum and renewed investor confidence.
Corrective Scenario:$BTC
Despite the bullish sentiment, technical indicators are flashing warning signals of a potential correction. Key support levels to watch:
$93,828 – First significant support. A breach could indicate short-term bearish pressure.
$90,946 – Intermediate support level.
$88,545 – Major support zone, likely to act as a strong buying area if tested.
Current Market Position:
BTC is trading in an attractive consolidation zone, offering both risk and reward for investors. Accumulation at current levels suggests growing anticipation of a larger move.
Macroeconomic Influence:
The broader crypto market is looking toward the Federal Reserve for signals of policy easing. Lower interest rates or dovish forward guidance could:
Weaken the U.S. dollar.
Boost risk-on sentiment.
Accelerate capital inflow into digital assets like Bitcoin.
