Bitcoin has been trading above $100K and is approaching the $110K mark. The asset has been forming higher highs and lows on the daily chart, with the $100K level now acting as a support zone. The $110K and $120K levels are potential targets for Bitcoin. However, the 4-hour chart shows a potential reversal pattern if the market fails to break above the ascending channel. On the other hand, investors have been accumulating Bitcoin, leading to a decrease in supply as shown by the exchange reserve metric. This suggests that Bitcoin could see higher prices in the future due to the supply and demand equation.



Other News from Today