CandleFocus

Bitcoin Rises Marginally, With Support At $100,000

Author: Content Editor
Bitcoin (BTC) price has been continuing its uptrend, surpassing the 21-day SMA. The bulls have defended the 21-day SMA support and the $100,000 psychological level. Bitcoin is currently trading between the 21-day SMA support and resistance at $108,000. If the bulls break through the $108,000 resistance, Bitcoin could rise to a new high of $115,000. However, a break below the 21-day SMA support would indicate the end of the uptrend. On the 4-hour chart, the price bars are below the moving average lines, suggesting a current decline. The key resistance levels for Bitcoin are $90,000 and $110,000, while the key support levels are $70,000 and $50,000. The analysis and forecast provided are the personal opinions of the author and should not be taken as a recommendation to buy or sell cryptocurrency.

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