$BTC is currently experiencing a bullish rally, as seen in the price surge to $87,238.92.
Bullish Signals:
1. Halving Event (April 2024): Historically, Bitcoin tends to surge before and after halving due to reduced supply.
2. Strong Institutional Interest: Spot Bitcoin ETFs and corporate adoption are increasing demand.
Risks to Watch Out For:
1. Profit Booking: Some investors may start selling at new highs, causing temporary corrections.
2. Regulatory Issues: Any sudden government crackdown or policy change could affect momentum.
Key Levels to Watch:
Resistance: $88,000 – $90,000 (short-term), $95,000 – $100,000 (next targets)
Support: $85,000 – $83,000 (if a correction happens)
If BTC holds above $87,000 and breaks $90,000, we could see $95,000+ in the coming weeks.
