With an intraday jump of ~1%, the Bitcoin price has hit a new all-time high (ATH) of $94,002.87 during the early Asian trading hours. Following this, the Bitcoin ETF has experienced a significant inflow in the last 24 hours.
Will the rising bullish sentiment push the star crypto toward its $100k mark this month? Or will it enter a consolidated price action for a brief period? Scroll down as you are minutes away from finding it out!
The Bitcoin price has maintained its bullish price action by rising 6.79% in 7 days and 34.63% in the last 30 days. Moreover, with MicroStrategy resuming its Bitcoin buying spree, institutional buying is turning more optimistic on Bitcoin strategy each day.
The Simple Moving Average (SMA) has constantly supported the Bitcoin price chart this month. This suggests a strong bullish sentiment for the crypto token in the market.
The RSI indicator continues hovering above the overbought range in the daily time frame. However, its average trendline records a high possibility of a bearish convergence, indicating a mixed price sentiment.
If the bullish sentiment sustains, Bitcoin will surpass its $94,000 mark and test its $95k level. Maintaining the price above that level could set the stage for it to head toward its target price of $100k in the upcoming time.
On the contrary, if a bearish reversal occurs, the BTC price will retest its support level of $90,000. Furthermore, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $80,000 this year.
Wondering about the long-term targets of BTC price? Read CoinPedia’s Bitcoin price prediction and also subscribe to us to stay updated on the latest crypto news!
Considering the present market sentiments, the Bitcoin price could range between $90,000 and $97,000 this week.
The BTC price recorded a new ATH of $94,002.87 on 20th November.
With an intraday jump of 0.67%, the Bitcoin price is currently valued at $92,298.55.
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