Bitcoin Eyes $100K as Bulls Gain Momentum and Resistance Eases
Bitcoin is currently priced at $98,309, with a market cap of $1.94 trillion and a 24-hour trading volume of $19.92 billion.
On the 1-hour chart, bitcoin is testing the $98,000 resistance after bouncing from $97,277, showing some upward momentum but with low volume, limiting breakout potential. The 4-hour chart shows a bullish pattern of higher lows. But resistance near $98,951 poses a challenge, and volatility in volume complicates predictions.
A breakthrough above this level could push bitcoin toward $100,000. While failure could lead to a drop to the $95,000–$96,000 support range. Indicators like moving averages support a bullish outlook. But low volume leaves room for consolidation or a retreat if resistance holds.
Clever Robot News Desk 6th January 2025
