1. Trend Analysis (Based on Recent Chart)
• Current Price Range: Bitcoin is currently trading around $97,000–$98,000.
• Long-term Trend: The chart suggests an upward channel with BTC respecting higher highs and higher lows.
• Short-term Trend: BTC has seen a strong breakout from consolidation over the past few weeks, indicating bullish momentum.
• Resistance Levels:
o Psychological Resistance: $100,000
o Next Key Resistances: $105,000, $110,000
• Support Levels:
o Short-term Support: $92,000, $88,000
o Key Long-term Support: $85,000, $74,000
2. Indicators Analysis
RSI (Relative Strength Index)
• Currently above 70, indicating overbought conditions.
• BTC could see a short-term correction before continuing its upward trend.
MACD (Moving Average Convergence Divergence)
• The MACD line is above the signal line, confirming bullish momentum.
• However, if it starts to converge, a pullback could be expected.
Momentum Indicators (Histogram, SQZMOM)
• Green histogram bars increasing, showing strong buying pressure.
• If momentum weakens, we may see a temporary retracement.
3. Key Scenarios for the Next 5 Weeks
Bullish Case (80% Probability)
📈 Price Target: $110,000 - $120,000
• BTC remains above $92,000-$95,000 support.
• Breakout above $100K leads to strong FOMO buying.
• Institutional adoption and ETF inflows drive BTC higher.
Bearish Case (20% Probability)
📉 Price Target: $85,000 - $74,000
• BTC fails to hold above
92K, leading to a deeper pullback.
• MACD bearish crossover signals short-term downtrend.
• Possible correction toward $85K or even $74K, where strong support lies.
4. Projection for the Next 5 Weeks
• Week 1-2: BTC likely consolidates between $92,000 - $100,000.
• Week 3-4: A breakout above $100K could push BTC to $110K - $115K.
• Week 5: If momentum holds, BTC may challenge $120K before a pullback.
5. Conclusion & Trading Strategy
✅ If Bullish:
• Buy on dips near92K-$95K.
• Take profits around $110K-$115K.
❌ If Bearish:
• Wait for RSI to reset below 50.
• Look for support around $85K-$74K before re-entering.
________________________________________
Final Prediction:
BTC likely crosses $100K in the next 5 weeks, with a potential rally toward $110K-$120K. However, expect short-term pullbacks as traders take profits.
• Current Price Range: Bitcoin is currently trading around $97,000–$98,000.
• Long-term Trend: The chart suggests an upward channel with BTC respecting higher highs and higher lows.
• Short-term Trend: BTC has seen a strong breakout from consolidation over the past few weeks, indicating bullish momentum.
• Resistance Levels:
o Psychological Resistance: $100,000
o Next Key Resistances: $105,000, $110,000
• Support Levels:
o Short-term Support: $92,000, $88,000
o Key Long-term Support: $85,000, $74,000
2. Indicators Analysis
RSI (Relative Strength Index)
• Currently above 70, indicating overbought conditions.
• BTC could see a short-term correction before continuing its upward trend.
MACD (Moving Average Convergence Divergence)
• The MACD line is above the signal line, confirming bullish momentum.
• However, if it starts to converge, a pullback could be expected.
Momentum Indicators (Histogram, SQZMOM)
• Green histogram bars increasing, showing strong buying pressure.
• If momentum weakens, we may see a temporary retracement.
3. Key Scenarios for the Next 5 Weeks
Bullish Case (80% Probability)
📈 Price Target: $110,000 - $120,000
• BTC remains above $92,000-$95,000 support.
• Breakout above $100K leads to strong FOMO buying.
• Institutional adoption and ETF inflows drive BTC higher.
Bearish Case (20% Probability)
📉 Price Target: $85,000 - $74,000
• BTC fails to hold above
92K, leading to a deeper pullback.• MACD bearish crossover signals short-term downtrend.
• Possible correction toward $85K or even $74K, where strong support lies.
4. Projection for the Next 5 Weeks
• Week 1-2: BTC likely consolidates between $92,000 - $100,000.
• Week 3-4: A breakout above $100K could push BTC to $110K - $115K.
• Week 5: If momentum holds, BTC may challenge $120K before a pullback.
5. Conclusion & Trading Strategy
✅ If Bullish:
• Buy on dips near
92K-$95K.• Take profits around $110K-$115K.
❌ If Bearish:
• Wait for RSI to reset below 50.
• Look for support around $85K-$74K before re-entering.
________________________________________
Final Prediction:
BTC likely crosses $100K in the next 5 weeks, with a potential rally toward $110K-$120K. However, expect short-term pullbacks as traders take profits.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.