The Bitcoin (BTC) price has crossed the psychological $100,000 mark, maintaining a strong uptrend. Trading above the 21-day SMA, Bitcoin seems poised for further gains as it targets $115,000 and beyond.
Bitcoin Price Long-Term Forecast: Bullish Trends Continue
Bitcoin hit $104,000 on December 5, briefly falling back but quickly regaining momentum. Currently, BTC is trading at $107,000, breaking past previous highs. If the bullish trend persists, Bitcoin could soon touch $115,000. A further rally may see the price climbing to $125,000.
However, any significant pullback could invalidate this bullish outlook. If BTC falls below the 21-day SMA, the price may drop to the $90,000 support level, just above the 50-day SMA.
Indicators Show Strong Bullish Momentum
Technical indicators suggest a continued uptrend for Bitcoin. The 50-day and 21-day SMAs are trending upward, with price bars consistently above the 21-day SMA. This alignment signals a bullish crossover, reinforcing expectations of further growth.
Buyers have repeatedly defended the 21-day SMA, indicating strong support. With momentum building, Bitcoin appears ready to push higher.
Key Levels to Watch: $104K Support and $108K Resistance
On the 4-hour chart, Bitcoin has broken through the $104,000 barrier, retesting it as a support level. The price has now hit resistance at $108,000, creating a range between $104,000 and $108,000.
A breakout above $108,000 could confirm a move toward $115,000, while a failure to hold the $104,000 support may lead to a bearish reversal.
Conclusion
Bitcoin’s bullish momentum shows no signs of slowing. As it consolidates above $100,000, traders should monitor key support and resistance levels. A sustained rally could lead to significant gains, with $115,000 and $125,000 in sight.
