Bitcoin Breaks $105,000 Barrier as Bulls Eye Extended Rally Toward $110,000
Bitcoin (BTC) is showing signs of renewed bullish momentum after successfully reclaiming the psychological $105,000 barrier. At the moment
Quick overview
- Bitcoin has reclaimed the $105,000 barrier, showing a 4% increase in the last 24 hours and setting the stage for potential record highs.
- The cryptocurrency has broken through key resistance levels, with technical indicators suggesting strong bullish momentum.
- Critical resistance lies between $106,000 and $106,500, and breaking this could lead to further upward momentum towards $109,200.
- Long-term predictions from Robert Kiyosaki suggest a target of $250,000 by 2026, but he warns of a potential crash before reaching that goal.
Bitcoin BTC/USD is showing signs of renewed bullish momentum after successfully reclaiming the psychological $105,000 barrier. At the moment, it is trading at a level that represents a 4% increase over the past 24 hours. It looks like the world’s biggest cryptocurrency is setting the stage for a possible push toward record highs, but there are still important resistance zones ahead.
BTC/USD Technical Recovery Shows Strength Above Key Moving Averages
Bitcoin’s rise from the $99,222 swing bottom has been highlighted by clear pushes through many levels of resistance. The cryptocurrency broke above a crucial negative trend line at $102,000 and is now firmly above the 100-hour simple moving average, which is approximately $104,500.
Before hitting resistance, the current advance sent BTC to an intraday high of $106,593. The cryptocurrency is now holding steady above the 23.6% Fibonacci retracement level, which is a good sign that bulls are protecting recent gains instead of letting people take profits right away, which would lead to further losses.
More and more, technical momentum indicators are showing bullish signs. The hourly MACD is getting stronger in positive territory, and the Relative Strength Index (RSI) has risen back over the neutral 50 mark, which means that buying pressure is greater than selling action.
Critical Resistance Levels Define Short-Term Trajectory
Bitcoin has to break through a few important resistance levels for the bulls to keep the current rally going. The next big problem is between $106,000 and $106,500, which is the most recent swing high. If this level is broken decisively, it might start a momentum cascade toward $107,500 and then $108,000.
If purchasing pressure rises beyond these levels, technical predictions point to possible targets of $109,200, with longer-term goals of $109,800 and $110,500. These areas are new ground that could lead to a lot of profit-taking by early buyers.
If the $106,500 resistance level isn’t broken, though, it might mean that support levels will have to be tested again. between $104,850, there is immediate downside protection, and between $104,200 and $103,500, there is more solid support. If the price drops below $102,500, the existing bullish structure would no longer be viable, and a deeper correction toward the $101,000 area might happen.
Long-Term Bulls Set Ambitious Price Targets
Robert Kiyosaki, a well-known financial instructor, has set a target of $250,000 for BTC by 2026, which adds to the positive mood around Bitcoin. The author of “Rich Dad Poor Dad” has been buying precious metals and cryptocurrencies since 1971. He calls Bitcoin “digital gold” and says it protects against what he calls currency debasement by central banks.
Kiyosaki’s prediction comes with a warning, though: he says that there could be a “massive crash” before Bitcoin achieves his high goal. His investment theory is that long-term investors should buy assets when the market is scared, not when it is happy. This means that any big drop could be a good time for long-term investors to get in.
Bitcoin Price Prediction: Cautious Optimism Prevails
Bitcoin’s price movement right now signals that it is trying to build a new base over $105,000 after a period of high volatility. The technical setup is good for bulls in the short term, as long as they can break through the important resistance levels at $106,500 with confidence.
Traders should keep a careful eye on volume patterns as they get closer to resistance zones. To break through overhead supply, there will need to be continuous buying pressure. Support between $104,200 and $103,500 is the most important “must-hold” zone for keeping the bullish structure going.
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