Watch These Bitcoin Price Levels as Cryptocurrency Reclaims $100,000 Level

#Bitcoin has recently surpassed the $100,000 mark, reaching an intraday high of $104,857. This resurgence is attributed to renewed investor confidence, #bolstered by a U.S.-U.K. trade agreement and a more favorable regulatory environment for digital assets.

Key Price Levels to Monitor:

Immediate Support: The $100,000 level has transitioned from resistance to a crucial support zone. A failure to maintain this level could lead to a retracement toward $98,000–$99,000.

#Resistance Levels: Bitcoin faces resistance around $102,500, with stronger barriers near $105,000 and $107,000. A breakout above these levels could propel the price toward $110,000 and beyond.

Long-Term Targets: #Analysts project that if the bullish momentum continues, Bitcoin could reach $120,000 in the second quarter of 2025.

Technical Indicators:

Relative Strength Index (RSI): above 50, indicating bullish momentum.

Moving Averages: Trading above the 100-hourly Simple Moving Average, suggesting short-term strength.

Market Sentiment:

While the recent rally is promising, analysts advise caution due to declining trading volumes on major exchanges like Coinbase, which may indicate cautious participation from institutional investors.

In summary, Bitcoin's ability to maintain support above $100,000 and break through key resistance levels will be pivotal in determining the trajectory of its price in the coming weeks.