Bitcoin (BTC) has taken the lead and is trading just below the $95,000 mark. Institutional interest remains strong, and technical indicators suggest potential for further upward movement.
In this article, we will look at Bitcoin next target by looking at price chart and technicals.
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📊 BTC Next Target
- Current Price: $93,833
- 24h Price Change: -0.07%
- 24h Range: $92,953 – $95,533
- Market Cap: Approximately $1.89 trillion
- 24h Trading Volume: Approximately $25.87 billion
- Circulating Supply: Approximately 19.3 million BTC
Price has broken through down trendline (see chart) as well as back above 200 SMA (Golden Crossover), which could signal bullish trend reversal. Also, notice that the gap from $74K to $90K from early November (after US elections) has been filled.
We would be buyers on retests of $90K resistance level, with +10% upside potential back to $100K next.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~62 (bullish territory)
- MACD: Bullish crossover observed
- Support Levels: $91,780, $88,000
- Resistance Levels: $95,900, $100,000
- Current Trend: Uptrend with strong institutional support
📰 Latest Bitcoin News & Developments
- 📈 Institutional Accumulation
Strategy Inc. has increased its Bitcoin holdings to 553,555 BTC, valued at over $52 billion. - 📊 Futures Market Activity
Bitcoin futures open interest onCME reached a record high of $9.3 billion. - 📉 Market Dynamics
Bitcoin maintains strength above the 78.6% Fibonacci level at $91,780, suggesting potential for continued bullish momentum.
📌 Summary
Bitcoin’s price action remains robust, supported by institutional investments and positive technical indicators. The market is closely watching the $95,900 resistance level, with a break above potentially paving the way toward the $100,000 milestone.
👉 Short-Term Forecast: Bullish, with potential to test and surpass $95,900
📉 Risk Factor: Moderate – monitor for resistance at key levels
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