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crypto analyst Trade PSH has revealed the main bitcoin support levels to watch as btc bulls push for a rally towards the $100,000 psychological level. The analyst also mentioned what price levels bitcoin could reach in the short term when it surpasses $100,000.
bitcoin Support Levels to Watch as Bulls Push for $100,000
in a CommerceSee publicationTrade PSH declared the local high at $99,450 as the bulls repeatedly try to push the price above $100,000. The crypto analyst also mentioned that the nearest key support zone lies between $95,000 and $96,600. This aligns with a recent Bitcoinist report that highlighted the $96,000 level as a crucial support zone.
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While bitcoin price moves above this support zone, Trade PSH stated that the main scenario is the continued growth of the flagship cryptocurrency. If bitcoin maintains an uptrend and finally surpasses the psychological level <a target="_blank" href="https://bitcoinist.com/bitcoin-price-satoshimeter/” rel=”nofollow”>$100,000 levelThe crypto analyst predicts that the intermediate growth target is between $102,000 and $102,757.
Based on the current price action, the analyst suggested that bitcoin could rise to $108,366. This would mark a new <a target="_blank" href="https://bitcoinist.com/bitcoin-surges-to-a-new-all-time-high/” rel=”nofollow”>all-time high (ATH) for the flagship cryptocurrency as its current ATH is $108,268. Meanwhile, Trade PSH mentioned that a drop below $94,300 would invalidate this trade setup.
The analyst's accompanying chart showed that bitcoin price could surpass $100,000 and hit these short-term targets before the end of the year. While that remains to be seen, it is worth mentioning that January 2025 offers a bullish outlook for the flagship cryptocurrency.
Pro-crypto <a target="_blank" href="https://bitcoinist.com/crypto-may-see-harrowing-dump-around-trumps-inauguration-warns-arthur-hayes/” rel=”nofollow”>donald trump He will take office on January 20, which could lead to the creation of the bitcoin Strategic Reserve. Historically, bitcoin also enjoyed a price recovery in January 2021 from the last bull run. As such, history could repeat itself again.
btc is going up
In a post x, crypto analyst Cryptocurrency titan He also provided a bullish outlook for the price of bitcoin, stating that the flagship cryptocurrency is rising. The accompanying chart showed that bitcoin could rise as high as $158,000 by May 2025. The chart also showed a price target above $220,000, suggesting that the flagship cryptocurrency could rise even further.
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crypto Titan alluded to a <a target="_blank" href="https://bitcoinist.com/bitcoin-bull-pennant-158000/” rel=”nofollow”>bullish pennantwhich suggested it was still in play for the price of bitcoin. This huge bullish pennant is forming on the monthly period and if met, the crypto analyst is confident that bitcoin will enjoy a parabolic rally to this price target.
At the time of writing, bitcoin price is trading at around $98,100, a drop in the last 24 hours, according to <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
