Bitcoin steadied this week after a brief pullback, with analysts saying the broader price structure still points to higher levels if key support zones continue to hold.
The world’s largest cryptocurrency has been moving higher since its late-November lows, and recent price action suggests buyers remain active during dips.
After rising strongly from its November 21 swing low, Bitcoin entered a short-term consolidation phase, followed by a modest pullback. The price briefly dipped into an important support band before stabilizing, suggesting buyers stepped in quickly.
“This was not an aggressive sell-off,” one analyst said, adding that the move looked more like a routine correction within an ongoing uptrend.
Bitcoin’s pullback found support between $90,850 and $92,900, an area which has been important in the past week.
Prices briefly touched the lower end of this range before rebounding, reinforcing the view that bulls are still defending the trend. Analysts said holding above this zone is critical for maintaining the short-term bullish outlook.
So far, price action within this range has followed expectations, with no signs of panic selling.
On the upside, experts are watching $94,780, the week’s recent high. A clear break above this level could confirm the next upward leg in Bitcoin’s rally.
If that happens, analysts see potential upside targets near $97,000, which marks a retracement level, and $98,400, a technical extension zone.
Despite the positive outlook, analysts warned that a decisive move below $90,850 would weaken the bullish case.
A breakdown below that level could shift focus toward deeper consolidation or even a retest of December lows. Such a move would suggest the current recovery phase has stalled.
Stable prices near key support give traders confidence to enter or hold positions without fearing sudden losses. It can also encourage cautious buying, influencing short-term market sentiment and trading volume.
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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