Bitcoin (BTCUSD) Offers a Potential Bullish Opportunity
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Bitcoin (BTCUSD) Offers a Potential Bullish Opportunity

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Azeez Mustapha

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Bitcoin (BTCUSD) Price Forecast: January 16

The BTCUSD market is gaining traction today, offering a potential bullish opportunity as the bulls renewed their strength. The coin is making solid progress and trades at the upper part of the chart, signaling strong market optimism. Based on the analysis of the current trade, if the bulls increase their momentum, the largest cryptocurrency’s price may rally from the $96,565 4-hourly candle above the $97,843 previous high accumulation zone and further accelerate to the upper resistance level of $100,000, resulting in potential gains for coin holders.

Key Levels:
Resistance Levels: $96,000, $97,000, $98,000
Support Levels:    $87,000, $86,000, $85,000

BTC (USD) Long-term Trend: Bullish (4H Chart)

Another opportunity to invest in BTCUSD has occurred, offering potential bullish trade in the long-term outlook.
Bitcoin (BTCUSD) Offers a Potential Bullish Opportunity The chart indicates that the coin is now trading above the supply level and is facing the upper resistance channel, suggesting bullish momentum.

The crypto price remains firm above the supply levels, having reached its recent high, due to an increasing order flow from bulls at $95,385 in the last session.

Today, Bitcoin buyers continue their journey up north and made a strong push to the $96,565 high mark above the EMA-50, confirming a strong bullish opportunity and a buy continuation.

Thus, if this bullish growth pattern persists and the further bearish thesis is hibernated, an established uptrend will be achieved as it surges.

In addition, continuation to the upside is likely as price indicator projects an upward move, implying that the potential bullish opportunity will most probably continue, and the pattern might hit the $97,843 peak barrier which may further rally to the $100,000 upper resistance level as the BTCUSD pair offers a potential bullish opportunity as well as a buy signal in its higher time frame.

BTC (USD) Short-term Trend: Bullish (1H Chart)

The Bitcoin uptick move is poised to reach the upper high level as it soars past crucial levels on the short-term chart.
Bitcoin (BTCUSD) Offers a Potential Bullish Opportunity The price currently trades above the EMA, making higher highs and moving towards the upper resistance area.

The successful breakout by the bulls to the $94,755 supply value in the last action has contributed to the coin market going long and retaining its bullish strength lately.

The market price of BTCUSD, which surges to a $96,474 high level, suggests an improved bullish market sentiment.

Thus, closing the 1-hourly session above the previous peak value of $97,963 will set the potential rally on a higher level, resulting in an opportunity to invest more in the asset.

Notably, the Bitcoin market could see an increase as indicated by the daily signal pointing up.

In light of this, the crypto price may trend to an upper resistance level of $100,000 according to the forecast.

Not only did money shift hands, but it also altered humanity. From basic barter to the digital code of Bitcoin, the history of money reflects the development of civilization.

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