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$BTC šļø Hello š My analysis for today š - Key support $93,514. Losing it = possible drop to $91,350 - $89,185. - Key resistance $94,950 - $95,750. Overcoming it = possible rise to $97,900. - Short term, Possible bullish rebound due to overselling (RSI), but needs to surpass $94,950. - Medium term, Correction in an upward trend. Watch support $93,514 for a possible rebound. ā ļø DYOR š
Elliott Wave Analysis of the Current Upward Movement of Bitcoin. The count does not look good, but it shows the possibility of a five-wave increase. This is likely the beginning of a broader bullish trend.
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Will the price of Bitcoin $BTC exceed $100,000 before May?
Recently, Bitcoin broke the $90,000 barrier for the first time since early March.
Its EMA lines support the bullish narrative, as all short-term moving averages are above long-term averages and widely diverged - often a sign of a strong upward trend.
The price of Bitcoin could challenge key resistance levels at $96,484 and $99,472 if this momentum continues. A break above these levels could open the door for the price to exceed the psychological barrier of $100,000, with the next main target near $102,694 - the highest level since early February.
However, there is still room for caution. It may lose its foothold in the short term if Bitcoin retests and fails to hold the support level at $92,920.
In this case, the price may slide towards $88,839, and if a downward trend forms, further losses down to $86,533 become more likely.
$BTC USDāŖā0.73%⬠Bitcoin (BTCUSD) has risen nearly 12% over the past seven days, gaining momentum as it reclaims key technical levels and approaches key resistance areas. The recent price surge has been supported by a slight rebound in the number of Bitcoin whale addresses, indicating renewed accumulation by large holders.
Bitcoin is recovering after the chaos of regulations, and public companies like Metaplanet are making significant acquisitions. The company purchased assets worth $28.2 million, an increase of nearly $2 million from last week. However, despite this new confidence, Metaplanet's stock performance remained volatile. The cryptocurrency market shows cautious optimism, but that will not immediately translate into significant gains.
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