Bitcoin is continuing to move higher on the daily chart, and recent analysis shows the upward momentum remains intact. After rising steadily from its November lows, the price has now reached an important area where the next move could shape the short-term trend.
Bitcoin is currently trading in the $97,000 to $98,400 range, a level analysts have been watching for weeks. Reaching this zone was expected, and it often acts as a place where prices slow down or briefly pull back before choosing a direction.
If Bitcoin moves above this resistance, analysts say the rally could continue, though it would still be part of a broader corrective move. A stronger signal would appear if Bitcoin climbs above $102,000, which could support a more sustained move into the $100,000-plus area.
So far, the market has not shown a clear breakout or a strong rejection, leaving traders cautious but optimistic.
In the near term, the trend remains upward. There is no clear reason to expect a sharp drop unless Bitcoin breaks below nearby support. Any short-term pullbacks are currently seen as healthy pauses rather than signs of weakness.
On the downside, Bitcoin has support between $93,900 and $96,600. Staying above this range keeps the upward trend intact. On the upside, the zone between $98,400 and $100,000 stands as the next major hurdle.
Bitcoin is hovering close to the widely watched $100,000 level, a price that carries strong psychological importance. While the trend remains positive, the market is at a turning point. The next few days are likely to decide whether Bitcoin pushes higher or takes a short pause before its next move.
Major risks include global recessions, tighter crypto regulations, declining liquidity, or a sustained breakdown below key support levels.
Bitcoin price forecasts for 2030 range from $380K to $900K, driven by scarcity, long-term adoption, and expanding institutional participation.
While uncertain, many long-term projections suggest Bitcoin could exceed $1 million by 2050 if it becomes a global store of value.
Bitcoin’s fixed supply makes it attractive as an inflation hedge, especially during currency debasement and long-term economic uncertainty.
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