The price of bitcoin continues with an integrated path below $ 99,000, but investors have decided to exceed six digits. The analysis of the TradingView platform relays this bullish sentiment, and the encryption analyst Waslad advises investors to hold BTC.
Bull bullish setup in the BTC enlarged wedge pattern
As Analyst pointed outBitcoin price has been traded in the expanded wedge pattern from early November. This technical structure is emphasized by a series of high and higher lower prices. Waslad’s analysis focuses on the BTC price movement in this vast wedge pattern, far of $ 100,000.
However, analysts emphasized the $ 99,600 price level as the most important obstacle and hindered $ 100,000 bitcoin prices. Successful breakouts will not only increase the trust of investors, but also set up a bitcoin price stage to achieve the following major price targets $ 100,000.
Analyst Advice BTC re -accumulation It suggests that it works as an ideal cap for those who are trying to use a breakout, which is expected to have a level of $ 99,600 within the current transaction range. If the BTC cleared $ 99,600 resistance, Weslad predicted a sharp rally, and the bitcoin price reached $ 115,000 to $ 117,000. This increases 19 % and 21 %, respectively, from the current bitcoin price. This projection matches the emotions of a larger market, as many traders predict further upside down on the ongoing bullish cycle.
Dangerous movement of bitcoin
Despite the bullish feelings over the price of bitcoin, recent dynamics, the dynamics, may increase, and the sales pressure may increase. In particular, on -fin data pays attention to important transactions by the US government. It moved almost 20,000 BTC equivalent to coin base wallets at the current market rate.
Such movements may promote concerns about the US government’s approaching sale and increase sales pressure in the short term. This may, at least in the short term, can derail BTC’s $ 100,000.
Nevertheless, such a sale Current purchase momentum surrounding BTC。 An important factor in this demand was the inflow of funds to the spot -bit coin ETF. The data from Cryptoquant shows that the demand for bitcoin ETF is as strong as this year’s first approval. According to Data from SOSOVALUESPOT Bitcoin ETF is currently in a row for four consecutive days, and has a 6797 million dollars on December 3rd.
These dynamics suggest that the price of bitcoin is still on the way to reach $ 100,000 by the end of the year. At the time of writing, the BTC has been trading for $ 96,668 in the past 24 hours.
Special image created in Dall.e, chart of TradingView.com