Bitcoin (BTC) Eyes $100,000 As Analysts Point To Bullish Flag Pattern

Bitcoin has consolidated its solid momentum and maintains a strong support base. The valuation of the world’s leading virtual currency has been steadily rising. At its current price of $65,773, BTC has recorded a significant trading volume of $147.7 billion in his 24-hour period, on top of which it has an impressive market capitalization of $1.29 trillion. . Over the past day, BTC rose 1.17%, indicating increased investor confidence and increased market activity.

Source: CoinMarketcap

Simply put, Bitcoin exhibits resilience to market fluctuations. Therefore, investors and analysts remain excited about its ability to achieve new milestones, strengthening its position as a prominent digital asset around the world.

Analyst predicts Bitcoin price to rise to $100,000

Captain Fybic, a well-known cryptocurrency analyst, said: It was communicated Optimistic outlook regarding Bitcoin’s future price movements. He highlighted that Bitcoin’s weekly candlestick closing prices have been consistently above the 10 EMA, a key technical indicator that indicates bullish momentum is spreading.

Since the breakout from the descending channel in October 2023, the bulls have expertly defended the weekly EMA10, further reinforcing their optimistic outlook. Fibig foresees a sustained upward trajectory for BTC, predicting further bullish gains towards $100,000.

In addition, Fibig emphasize A bullish flag pattern appears on the BTC daily timeframe chart. This pattern typically indicates a brief pause within an uptrend before the prevailing bullish momentum resumes.

If Bitcoin encounters an upward breakout from this bullish flag pattern, analysts envision the prospect of achieving a new all-time high in May, further fueling investor enthusiasm and market optimism. are doing.

Furthermore, crypto analyst Ali Martinez said, underscore BTC is trying to consolidate $66,000 as a key support level. Notably, approximately 1.54 million addresses have accumulated his 747,000 BTC at this point, indicating strong investor interest and confidence in Bitcoin’s ability to maintain its upward trajectory.

If $66,000 is secured as support, BTC could face the next key resistance level (estimated in the range of $69,900 to $71,200), further solidifying its market position.

The collective thoughts of analysts like Captain Fibig and Ali Martinez highlight the bullish sentiment towards Bitcoin that appears to be solidifying as technical indicators and market dynamics push Bitcoin higher. There is.

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