CandleFocus Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally
2024-12-05
Author: Content Editor
The Bitcoin price has been attempting to reclaim the $96,400 level as support after breaking above a bearish trend line. A crypto analyst believes that if Bitcoin successfully tests this support level, it could trigger a price increase to $100,068, potentially setting the stage for a retest of the all-time high of $100,000. The analyst also highlighted that Bitcoin is currently grabbing liquidity at lower prices without breaking below the key support trendline, indicating a potential shift in the market. However, if Bitcoin fails to hold the $96,440 support, it could retest lower levels around $91,070 and even crash to new lows around $87,325. As of now, Bitcoin is trading at $96,737, marking a 3.24% increase over the past week.
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