Bitcoin Price Levels: Cryptocurrency Surges Above $100,000 – Key Points to Observe
an exciting time for Bitcoin as it breaks the $100,000 mark for the first time! Investors are feeling bullish as they anticipate positive policies for the cryptocurrency market under the incoming Trump administration and Congress. This surge comes after the news that Paul Atkins, a crypto enthusiast, is set to lead the Securities and Exchange Commission, replacing the current crypto critic, Garry Gensler.
Currently trading at $103,000, Bitcoin has seen a significant 45% increase since the election, with investors showing a strong interest in the digital asset. The technical analysis of Bitcoin’s chart reveals some important levels to watch out for during this exciting time.
One key aspect to note is the pennant pattern breakout, signaling a continued upward trend for Bitcoin. The golden cross formed by the 50-day moving average crossing above the 200-day moving average in late October also points to a bullish trajectory for the cryptocurrency.
For those interested in projections, a measured move technique calculates a potential price target of $129,930 based on past bullish trends. It’s essential for investors to monitor key support levels around $90,500, $80,500, and $70,000 as Bitcoin continues its upward journey.
While this news brings excitement to the cryptocurrency market, it’s essential to remember that the opinions and analyses shared here are for informational purposes only. As always, make investment decisions carefully based on your own research and financial goals.
