Bitcoin (BTC) has seen a rise in price, crossing the $100,000 mark and reaching a high of $109,590 before being pushed back. It is currently trading above the moving average lines but below the resistance level of $104,000. If buyers are able to overcome the resistance levels, Bitcoin may reach a high of $116,000. However, if the resistance levels cannot be overcome, Bitcoin will likely trade within a range above the moving average lines. Key resistance levels are at $90,000 and $110,000, while key support levels are at $70,000 and $50,000. The 4-hour chart indicates that Bitcoin is currently trapped between the 50-day SMA support and the 21-day SMA resistance. If the bears break the 50-day SMA, Bitcoin may fall and retest the support at $90,000. Conversely, if Bitcoin breaks above the 21-day moving average, it will resume its uptrend. The current fluctuations will continue if the 21- and 50-day SMAs remain unbroken.



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