Key Bitcoin Price Levels to Monitor as $100K Threshold Approaches
ol, to project how Bitcoin’s continuation move may play out. By taking the cryptocurrency’s trending price bars that preceded the pennant and repositioning them from the pattern’s top trendline, a bullish price target of around $118,000 is predicted, a level the price may test before moving into a consolidation phase.
During pullbacks, it’s important to keep an eye on the $93,000 level as an initial support level. Investors looking to take advantage of the recent bullish momentum may consider entry points in this area toward the top of the pennant pattern.
A more significant drop could see Bitcoin’s price revisit lower support around the key $70,000 mark, a level likely to attract buying interest near the prior trading range’s top trendline. Depending on the timing of such a move, this region could also align with the upward sloping 200-day moving average.
Overall, Bitcoin’s price levels and technical indicators suggest a bullish outlook, with the potential for further upside above $100,000. It’s essential for investors to stay informed about key support levels and market trends to make informed decisions about their cryptocurrency investments.
