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Bitcoin Price Breaks $100K: Next Target $115K?

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.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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