The price of Bitcoin (BTC) is expected to experience some volatility in the next 24 hours, but the direction is uncertain. Currently, BTC is trading at around $84,000.28, with a 0.22% increase in the last 24 hours .
Some analysts predict a potential breakout above $94,000, as Bitcoin is trading at a key demand zone that has previously acted as strong support .
However, others suggest that BTC may experience a corrective move after forming a double top near the upper boundary of the channel .
Key Factors to Watch:
- Whale Activity: New whale investors have been consistently buying Bitcoin around the $60,000 mark, reinforcing that price level as a critical support zone .
- Market Sentiment: Bitcoin has been benefiting from strong fundamentals, such as its capped supply and increasing mainstream adoption .
- Technical Indicators: The Ichimoku Cloud has been guiding traders, and breaking above certain resistance levels could trigger another surge .
