The key support and resistance levels ahead for Bitcoin are as follows:

• Third Key resistance level of BT C/USD: 106000
• Second Key resistance level of BTC/USD: 102000
• First key resistance level of BTC/USD: 99800
• First key support level of BTC/USD: 95000
• Second Key support level of BTC/USD: 92000
• Third Key support level of BTC/USD: 83000

  Bitcoin Reaches $100,000: A Milestone in Cryptocurrency History!

Over the past three weeks, Bitcoin has experienced significant growth due to positive fundamental factors in the U.S. economy and strong supportive sentiment from long-term holders and new buyers.

This surge culminated in Bitcoin achieving the historic and symbolic $100,000 mark for the first time in its history. Reaching $100,000 is a major milestone for the cryptocurrency market—a point that many traditional financial analysts and well-known market experts previously dismissed as improbable.

However, following this historic achievement, Bitcoin’s price has encountered resistance at this critical psychological level, a key target for long-term holders. As a result, the upward momentum has paused, leading to a period of price correction.

The formation of candlestick patterns such as the spinning top and hanging man on the weekly chart suggests a mix of profit-taking by some buyers and indecision among Bitcoin traders about the future direction of the market. Considering the overbought conditions in both daily and weekly timeframes and the presence of a negative divergence with the RSI (Relative Strength Index) on the daily chart, Bitcoin’s price shows a potential for further correction in the coming candles, albeit with limited strength.

On the other hand, in a bullish scenario, the first signal for further upward movement would be the breakout of the critical psychological resistance level of $100,000 and the stabilisation of prices above this threshold. If this occurs, it could fuel optimism and provide a strong catalyst for altcoin growth as well. In this case, the next target for buyers would likely be the resistance level at $113,000.

The CloseOption Team
www.closeoption.com