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Bitcoin Charts Signal Imminent Move: Is a $100,000 Target Realistic?
The cryptocurrency market is abuzz with the notion of a massive price movement, as Bitcoin (BTC) charts indicate an impending move. Amidst this fervor, we’ll delve into whether a $100,000 target is realistic.
Currently, BTC/USD is entrenched in a symmetrical triangle formation on the four-hour chart, rendering a high probability of a breakout occurring in either direction. The support trend line is set at $93,200 and the resistance trend line has been established at $96,500.
In this precarious situation, market participants are anxiously awaiting the consequences that will unfold. As the apex of the triangle approaches, it becomes increasingly plausible that we may see a definitive breakout within the next few days. If we do witness a breakout above $96,500, we could potentially be looking at an upwards momentum, with $100,000 as a bulls’ control figure.
On the other hand, if Bitcoin’s price falls below $93,200, it would signal the start of a fresh bearish atmosphere and potentially lead to a decline in value.
Source: cryptonewsland.com
