Bitcoin (BTC), the original and most dominant cryptocurrency, continues to reflect strong investor interest as it hovers around key resistance levels.
In this article, we will find bitcoin price target by looking at price chart and technicals.
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📊 Bitcoin Price Target
- Current Price: $84,599
- Market Cap: ~$1.66 trillion
- 24h Trading Volume: ~$36 billion
- Circulating Supply: ~19.6 million BTC
- Total Supply: 21 million BTC
Price has broken below the 200 SMA, which could signal onset of a Downtrend. That 200 SMA now turned from support into resistance. On the positive side, price has broken through down trendline (see chart) and the Gap from $74K to $90K from early November (after US elections) has now been mostly filled.
However, price is approaching a stiff resistance area: 200 SMA ($87K) and $90K horizontal resistance. We would be buyers around $75K, with +10% upside potential back to $83K.
📈 Key Technical Indicators
- 24h Price Change: -0.34%
- 24h Range: $83,651 – $85,763
- Relative Strength Index (RSI): ~58 (neutral to slightly bullish)
- MACD: Bullish crossover forming
- Support Level: $82,353
- Resistance Level: $88,000
- Current Trend: Consolidation with breakout potential
📰 Latest Bitcoin News & Developments
- 📊 Market Activity
Bitcoin has been trading steadily between $83,306 and $86,100 in the last 24 hours, currently up by about 1.56%. - 📈 Resistance Watch
Traders are closely watching the $88K level, which could determine whether BTC breaks into a higher bullish channel. - 📌 Chart Target Update
Analysts are pointing to possible upside targets in the range of $96,200 to $102,100, based on recent bullish chart patterns.
📌 Summary
Bitcoin is currently in a consolidation phase, trading near the $84,500 mark. A break above $88,000 could set the stage for a strong rally toward $100,000, supported by favorable technical indicators. However, investors should remain cautious of short-term volatility and global macroeconomic cues.
👉 Short-Term Forecast: Likely to test $88,000 soon
📉 Risk Factor: Sensitive to external economic and regulatory shifts
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