Crypto analyst Trade PSH has revealed key Bitcoin support levels to watch out for as Bitcoin bulls push the exchange rate higher. Psychic $100,000 level. The analyst also noted what price levels Bitcoin could reach in the short term as it moves above $100,000.
Watch out for Bitcoin support levels as bulls push for $100,000
in one TradingView postTrade PSH stated that the local high is $99,450 as bulls repeatedly try to push the price above $100,000. The crypto analyst also noted that the nearest key support zone is between $95,000 and $96,600. This is consistent with a recent Bitcoinist report that highlighted this $96,000 level As a vital support area
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With Bitcoin price moving above this support zone, Trade PSH stated that the main scenario is a continuation of growth for the flagship digital currency. If Bitcoin maintains its uptrend and finally crosses the psychological level $100,000 levelThe cryptocurrency analyst predicts an average growth target between $102,000 and $102,757.
Based on the current price action, the analyst suggested that Bitcoin could rise to $108,366. This is a new sign All-Time High (ATH) For the flagship cryptocurrency, as its current ATH is $108,268. Meanwhile, Trade PSH indicated that a break below $94,300 would invalidate the trade setup.
The analyst's accompanying chart showed that the price of Bitcoin could reach above $100,000 and reach these short-term targets before the end of the year. While it is not clear yet, it should be noted that January 2025 offers a bullish outlook for the flagship cryptocurrency.
Cryptocurrency fan Donald Trump It is set to launch on January 20th, which could lead to the creation of a strategic Bitcoin reserve. Historically, Bitcoin also enjoyed a price recovery in January 2021 during the last bullish period. In this way, history can repeat itself.
Bitcoin is going higher
In a post X, cryptocurrency analyst Titan of Crypto It also offered a bullish outlook for the price of Bitcoin, stating that the flagship digital currency is on the rise. His accompanying chart showed that Bitcoin could rise to $158,000 by May 2025. The chart also shows a price target above $220,000, indicating that the flagship crypto could go even higher.
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Titan of Crypto to a rising flagwhich he suggested is still ongoing for the price of Bitcoin. This massive bull symbol is forming on the monthly time frame, and if it comes to fruition, the cryptocurrency analyst is confident that Bitcoin will enjoy a parabolic rise to this price target.
At the time of writing, Bitcoin is trading at around $98,100, which has fallen over the past 24 hours. data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
