Bitcoin is presently trading above the historical and vital $100k level and is up by more than one percent in the last 24 hours. According to expert Josh of Crypto World, Bitcoin is forming a brand-new pattern in the brief term that we oughtto keep an eye on. Here’s a breakdown of his analysis:
Bitcoin’s Bullish Market Overview
The expert stated that Bitcoin is plainly still in a bull market. The weekly RSI is signaling a strong bullish pattern, which has led to significant bull runs in the past. The MACD is likewise revealing bullish indications, comparable to last year when it forecasted a significant rally that lasted for months. Based on these signs, it’s mostlikely that the bull market might continue into 2025.
Resistance and Price Targets for Bitcoin
Currently, Bitcoin is dealingwith resistance level at around $102,000, which is the 1618 Fibonacci extension level. If Bitcoin can break above this, we might see a relocation towards $113,000. The next crucial cost target is $