A crypto analyst who accurately predicted the Bitcoin price crash to $99,000 has now forecasted that the cryptocurrency will reach new highs above $110,000. The analyst sees a critical support zone between $102,500 and $100,000, and if Bitcoin can maintain a price above this zone, it could lead to a market rally to new all-time highs of $120,000. Bitcoin is currently trading at $108,594, experiencing a 4.65% rise in the past 24 hours. The analyst believes this recent price rally is due to strong accumulation and growing investor confidence. Resistance levels have been set at $103,600, $105,700, and $107,500, with potential bullish targets between $108,000 and $112,000. However, failing to hold above the $100,000 mark could temporarily stall the rally, potentially leading to a significant crash. Bitcoin's overall trend remains bullish as long as it quickly recovers from any projected declines and remains above critical support levels. The recent price increase has been attributed to technical, fundamental, and macroeconomic factors, including increased activity from institutional investors and speculation about favorable crypto policies under the new US administration. This strong momentum has attracted new buyers and increased institutional interest in Bitcoin.



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