Bitcoin (BTC) is on track to achieve a new high after breaking the key resistance level at 103,000 USD. Here are the details:
- Current Price: 107,753.43 USD, up 1.26% from the previous day.
- Forecast: Analysts expect the price of Bitcoin to reach 110,000 USD, especially with improved market sentiment and a decrease in geopolitical tensions.
- Technical Support: The 106,000 USD level is considered strong support for the price, while the 109,000 USD level represents strong resistance.
- Buying Momentum: The Relative Strength Index (RSI) indicates strong buying momentum, supporting the continuation of the rise.
- Cash Flows: Bitcoin exchange-traded funds experienced net cash inflows of 3.6 billion USD this month, reflecting increased demand from institutional investors.
- Future Outlook: Analysts expect the price of Bitcoin to reach 120,000 USD in the near future, with the upward momentum continuing.