The post new highs on the horizon or a pause in the rally? appeared on BitcoinEthereumNews.com.

Bitcoin remains above 99,000 dollars, thus nearing $100k and showing strong bull momentum thanks to institutional investments and market interest. In this context, analysts are closely watching the technical levels to assess the next move. Let’s see all the details in this article.  Bitcoin approaches the $100K threshold, fueled by institutional inflows and positive sentiment Bitcoin, the main cryptocurrency by market capitalization, is one step away from the historic threshold of 100,000 dollars.  With a current price close to $99,000, the digital currency has shown a constant bull trend , supported by institutional inflows and renewed optimism among investors. The crucial question is: Will Bitcoin manage to overcome this psychological resistance in the short term? In any case, the performance of Bitcoin is not an isolated case. Altcoins like Ethereum, XRP, and Cardano have recorded significant gains, contributing to a general rally in the cryptocurrency market. The recent influx of 900 million dollars into spot Bitcoin ETFs has highlighted a growing institutional participation, which is strengthening confidence in the market. The increase in trading volume, both in spot and derivatives markets, reflects sustained interest. This liquidity has helped maintain the price stability of Bitcoin, even during moments of greater selling pressure. The $100,000 level represents an important psychological resistance for traders. In the past, Bitcoin has encountered difficulties in surpassing this threshold, as happened in the attempts at the end of December.  However, the support remains solid at $95,000, with $90,000 acting as a safety net for the bull trend. The 4-hour Bitcoin chart shows a series of higher lows, a clear sign of strength.  The moving averages support this view: the 50-period moving average is positioned near $98,250, providing immediate support, while the 200-period average reinforces the long-term bull sentiment. Technical indicators and volumes The analysis of volumes suggests…

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Filed under: News - @ January 6, 2025 1:20 pm