CandleFocus

Bitcoin needs to reclaim this level so BTC can rally above $100k

Author: Content Editor
Bitcoin (BTC) is currently consolidating below the $100,000 resistance level and traders are closely watching key levels that need to be reclaimed for a new rally. CrypNuevo has set a price target of $98,300 for Bitcoin to validate upward momentum and potentially break out above $100,000. Reclaiming this level is seen as crucial for a continuation rally. Additionally, there are high liquidity pools between $99,000 and $100,000 that could trigger significant liquidations and a short squeeze if Bitcoin trades strongly above the $98,300 level. Analysts have varying outlooks for what will happen after Bitcoin reaches $100,000, with some expecting a quick break followed by a correction while others are setting targets at $200,000 and beyond. Savvy traders are cautioning the importance of profit realization and having a clear exit strategy.

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