CandleFocus Will the Thanksgiving rally finally push Bitcoin to $100,000?
2024-11-28
Author: Content Editor
Bitcoin is trading above $95,000 and on-chain analysts suggest that it can hit $100,000. The Thanksgiving holiday season has historically been a time for Bitcoin to see price breakouts. The cryptocurrency has formed a narrowing wedge pattern, indicating a potential breakout towards the $99,000 target. Bitcoin's bounce from key Fibonacci retracement levels also supports the optimism. Bitcoin has delivered bullish returns during past Thanksgiving holidays, with gains of over 33 million percent since 2010. Currently, Bitcoin is trading at $95,500, up 3% in the last 24 hours, but down 2.6% on the weekly timeframe. Technical indicators suggest that Bitcoin is potentially on track to reach $100,000 in the short term.
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