Bitcoin Holds Ground As Bulls Aim For $100,000 Breakout

BTCUSD Bulls Continue To Fight For Expansion

Bitcoin remains below the $100,000 resistance level as bullish forces dominate, despite mounting pressure. The cryptocurrency market has shown resilience, but buyers are struggling to overcome the psychological barrier.

BTCUSD Key Levels

Resistance: $100,000, $97,000
Support: $91,180, $81,000

Bitcoin has maintained strong bullish momentum throughout Q4 2024, marking it as one of the most robust quarters in recent years. Following a new all-time high earlier this quarter, the market has entered a consolidation phase below the $100,000 level.

The extended consolidation indicates that while buyers are facing resistance, they remain committed to sustaining upward momentum. The market currently trades within a narrow range, suggesting an imminent breakout or breakdown depending on the prevailing strength of buyers or sellers.

The Stochastic Oscillator reveals a gradual weakening in bullish momentum, signaling the impact of the consolidation phase. Similarly, the Momentum Indicator has flattened, reflecting reduced market activity and emphasizing the need for renewed energy to facilitate a breakout.

Market Expectation

On the 4-hour chart, Bitcoin is consolidating as buyers work to build strength for a possible breakout above $100,000. Traders are closely monitoring the market for pivotal movements in the coming days.
The consolidation below $100,000 highlights market indecision, though the overarching bullish sentiment remains intact. A successful breach of the $100,000 resistance level could trigger a sharp rally, with potential targets at $105,000 and $110,000. Conversely, failure to break above this level might result in a retracement toward $91,180 or lower support zones. Utilizing crypto signals can help traders identify optimal entry and exit points during this critical phase.

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