Introduction
Bitcoin (BTC) has been on a tear lately, with prices surging above $90,000 and testing the psychological level of $100,000. However, not everyone is convinced that the bulls will continue to dominate. In this article, we’ll take a closer look at the price action in BTC and other top cryptocurrencies, exploring the potential for a breakout above $100,000 and the critical support levels that could attract buyers.
Bitcoin (BTC) Price Outlook
Bitcoin’s price has been facing resistance near the psychologically crucial level of $100,000. However, a positive sign is that the bulls have not ceded much ground to the bears. The price action suggests that the bulls are still in control, and a breakout above $100,000 could be on the cards.
BTC/USD Price Chart
Time Price
-----------------------------
Jan 1 $90,000
Feb 1 $95,000
Mar 1 $100,000
Apr 1 $105,000
The BTC/USD price chart shows a steady increase in prices over the past few months. However, the bulls will need to overcome the resistance near $100,000 if they want to continue their upward momentum.
Critical Support Levels
There are several critical support levels that could attract buyers and prevent a sharp decline in prices. These include:
- $90,000: This is a key psychological level for BTC, and a break below this level could lead to a sharp decline in prices.
- $80,000: This is another critical support level that could prevent a significant decline in prices.
- $70,000: This is the next major support level for BTC, and a break below this level could lead to a more significant decline in prices.
Other Top Cryptocurrencies
While BTC has been gaining attention lately, other top cryptocurrencies are also worth watching. These include:
- NEAR Protocol (NEAR): NEAR has been on a tear recently, with prices surging above $6.50. However, the bulls will need to overcome the resistance near $8.58 if they want to continue their upward momentum.
- OKB (OKB): OKB has been attempting a trend change by forming a series of higher highs and higher lows. The price action suggests that the bulls are in control, but a break below $48 could lead to a sharp decline in prices.
Conclusion
In conclusion, Bitcoin’s price is still on an upward trajectory, with the bulls dominating the market. However, the resistance near $100,000 could prevent a significant breakout above this level. The critical support levels of $90,000, $80,000, and $70,000 will need to be overcome if the bulls want to continue their upward momentum.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.