Bitcoin (BTC) price exceeded $93,500 again today after a long break. An order has been issued to arrest those who support the US attack on Venezuela, and Trump is determined to start the year with tension. In other words, positive divergence of crypto is essential for the continuation of the rise because geopolitical risks are alarming. So what do analysts say?
Bitcoin Rise and CME
BTC At the time of writing, it exceeded $ 93,500 and is moving to $ 94 thousand. So, if this is a fake rise, Bitcoin may decline after about a thousand dollars more rise, as in previous unsuccessful attempts. If it doesn’t, we should see the rise accelerate. Jelle expects the rise to continue due to the divergence caused by CME. Jelle said:
“Bitcoin Almost every major turning point for has occurred with a divergence in the higher timeframe on the CME chart.
We are experiencing such a deviation again. It is time for a new era of ascension.”
Belief in Ascension Increases
Apart from the CME confirmation, it is motivating that altcoins also participate in this comeback. Maybe the ones who will be trapped this time are those who are waiting for 56 thousand dollars? Analysts such as Roman Trading, who have been touting a decline for 6 months, were saying that there would be a final rise to 104 thousand dollars. Maybe we will first climb to this level and then see the price move towards the main target? The high risk reward ratio along with the uncertainty in crypto constitutes its appeal.
Ran Neuner also says that the period of great change has begun as BTC gained the 50-day moving average. When the same thing happened before, BTC created new and bigger highs. If Ran is right, BTC can return to at least 6-digit levels.
DaanCrypto also pointed out the CME gap.
“BTC is currently at 2 CME gap there is. One is around New Year’s Eve and the other is this weekend. As always, it’s worth keeping an eye on these, especially if the price is trading close to these gaps. “If prices enter these gaps, they can act as local reversal zones.”
It’s great if BTC exceeds $94,000 and continues on its way rapidly, but if there is a pullback, we will wait for the reaction rise to start at $90,400, according to DaanCrypto. So, the key area is the $93,500 and $90,400 levels.
