Bitcoin (BTC) is currently trading against Tether (USDT) with a price of around $101,726.59 to $103,709.64, showing a rise of 0.21% to 0.74% in the past 24 hours. Here are some key updates and analysis ¹ ²:
- *Market Sentiment*: The market sentiment is bullish, with 78% of technical indicators showing bullish trends and the Fear & Greed Index at 73 (Greed).
- *Price Movement*: Bitcoin's price has risen by 9.31% to 10.69% over the last week and 21.43% to 25.10% over the last month.
- *Predictions*: Some analysts predict Bitcoin could reach $140,000, while others expect a correction to around $60,000 or $99,000.
- *Technical Analysis*: The technical analysis shows a buy signal, with moving averages and oscillators indicating a strong buy.
- *Key Levels*: Key levels to watch include $103,085, which must hold to maintain the bullish structure, and support levels at $99,265 and $90,000.
Some analysts also observe potential patterns, such as:
- *Wyckoff Distribution Pattern*: A potential Wyckoff Distribution pattern is forming on the 1-hour chart, which could indicate a liquidity sweep towards the upside.
- *Elliott Wave*: Bitcoin might be completing a 5-wave Elliott Impulse, which could lead to a correction.
- *Accumulation and Distribution*: The market structure suggests accumulation, manipulation, and potential distribution phases.
Keep in mind that crypto markets are highly volatile, and it's essential to study all available stats and technical analysis before making a decision ¹ ².