Great, we have now entered the discussion of predictions for Bitcoin — and this is very important, especially with the current movement in the market.
Based on the chart you sent, let me detail a possible forecast according to technical analysis:
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Current strengths (Bullish):
The price is above the averages (MA7, MA25, and MA99): this means that the overall trend is still upward.
MACD is positive and by a large margin: there is strong buying momentum.
Breaking the peak of 97,700 is very close: this could open the way for a new wave of buying if it is clearly broken.
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Warning signals (Bearish / Corrective):
RSI is close to 71.4: this is an overbought area. Historically, every time RSI reaches above 70, the price either starts to correct or at least moves sideways (Consolidation).
The peak candle (97,700) indicates the beginning of resistance, meaning the market has started to hesitate above this price.
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#BTCPrediction (current technical forecast)
The bullish scenario (Bullish):
If the price breaks the level of 97,700 firmly with momentum, we might see it rise to 98,800 and then 100,000 as a strong psychological target for the market.
The bearish scenario (slight correction):
If it fails to break 97,700, it might drop to test the support area of 95,400 - 94,100.
The natural correction is still healthy as long as it is above 93,300 (the last bottom).
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My personal opinion now?
The market tends to rise in the short term, but is close to strong resistance, so caution is necessary now.
If you enter a buy, you must be prepared for a possible correction, and place a stop loss under 95,000 for example to avoid sharp reversals.
