Bitcoin (BTC) $95,771.38 The price made several times to exceed the critical 100 thousand thresholds against the US dollar. However, the sales pressure prevented the rise of the price and the overcoming of this threshold. Technical indicators show that certain resistance levels should be exceeded in the short term.
Bitcoin Price Analysis: Is it over 100 thousand dollars?
Bitcoin price76.4 percent of the price movement from 91 thousand 352 dollars to 102 thousand 295 dollars has managed to remain above the level of fibonacci correction. However, the 4 -hour graph is traded below 100 simple moving average (red) and 200 simple moving average (green) levels.
In the upward movements, 97 thousand 500 dollars and 100 simple moving average average is a strong resistance. There is also a significant decrease trend line at the level of 97 thousand 250 dollars.
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In order for Bitcoin to exceed $ 100,000, he needs to overcome these obstacles. If these obstacles are exceeded and the upward movement is successful, the price is estimated to rise up to 105 thousand dollars.
Important support zones for Bitcoin price
The first support level for Bitcoin is 95 thousand 500 dollars. Stronger support is around 94 thousand dollars. If the price falls below this level, a withdrawal may be experienced up to 92 thousand dollars support. In case of more loss, the price can be withdrawn to 91 thousand 200 dollars.
On the other hand, the largest subcoin Ethereum (ETH) 
$2,697.21 In the last recovery movement, it was over 2 thousand 650 dollars. However, with the decrease in Bitcoin, he withdrew intensive sales pressure that started at the level of 2 thousand 850 dollars and is currently trading around 2 thousand 700 dollars.
Moreover, the economic data to be announced today may affect Bitcoin and the rest of the crypto money market. Accordingly, the US January 2025 housing starts (monthly) and US January 2025 building licenses (monthly) data will be announced today. Expectations will arrive as 1.40 million and 1.46 million, respectively. These two data will give clues about the current situation of the US economy and Bitcoin pricemay increase mobility.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
