Bitcoin (BTC) is trading at approximately $103,318, reflecting a slight decline of 0.19% over the past 24 hours. Despite this minor pullback, BTC has shown resilience amid broader market fluctuations.
In this article, we will look at Bitcoin price target by looking at price chart and technicals.
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Bitcoin Next Target
- Current Price: $103,318
- 24h Price Change: -0.19%
- 24h Range: $102,746 – $103,655
- Market Cap: Approximately $2.05 trillion
- 24h Trading Volume: Approximately $37.9 billion
- Circulating Supply: Approximately 19.87 million BTC
Price has broken through down trendline (see chart) as well as back above 200 SMA (Golden Crossover), which signaled bullish trend reversal. It’s now broken above $100K resistance and is likely to revisit ATH of $108K next.
It is getting overbought (RSI > 70) and we could see a pullback on profit taking before resuming it’s uptrend.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~68 (approaching overbought territory)
- MACD: Bullish crossover observed
- Support Levels: $102,800, $101,500
- Resistance Levels: $104,500, $105,700
- Current Trend: Sideways with potential for upward movement
📰 Latest Bitcoin News & Developments
- 📈 Whale Activity
A significant Bitcoin whale increased their long position to $390 million, indicating strong bullish sentiment and contributing to a surge in trading volume. - 📊 Market Dynamics
Bitcoin’s price is currently consolidating between $103,000 and $104,500. A breakout above $104,300, confirmed by RSI and MACD indicators, could propel the price toward $105,700–$107,000. - 🛠️ Regulatory Developments
The U.S. Senate is poised to pass the GENIUS Act, a significant piece of legislation that would establish a regulatory framework for stablecoins.
📌 Summary
Bitcoin is currently in a consolidation phase, with the price stabilizing around $103,318. Technical indicators suggest a neutral to slightly bullish stance, supported by positive whale activity and potential regulatory clarity.
👉 Short-Term Forecast: Neutral to slightly bullish, contingent on breaking above $104,500
📉 Risk Factor: Moderate – due to market volatility and external factors
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