CandleFocus Why Bitcoin could hit $100,000 today
2024-11-25
Author: Content Editor
Bitcoin (BTC) has the potential to reach $100,000 as technical indicators support a possible rally. The super trend indicator and the Relative Strength Index (RSI) both suggest a strengthening uptrend. The RSI crossing above 70 on the monthly timeframe is historically associated with explosive price action. Long-term Bitcoin holders also exhibit increased greed, a behavior usually linked to market tops. However, some analysts anticipate selling pressure and consolidation around the $100,000 level before a sustained breakthrough. Bitcoin's current price is around $98,865.
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