...

Bitcoin Eyes $102K with Renewed Bullish Momentum

FxNews—Bitcoin is in a robust bull market, trading above the 100-period simple moving average—the recent consolidation phase from the $100,000$ threshold eased near the 100-SMA at approximately $90,800.

On November 27, bulls pulled Bitcoin prices above the immediate resistance at $94,000, resuming the uptrend. As of this writing, BTC/USD is testing the 97,170 resistance.

Bitcoin Eyes $102K with Renewed Bullish Momentum
Bitcoin Eyes $102K with Renewed Bullish Momentum

From a technical perspective, digital gold will likely test the 100,000 physiological level if bulls can maintain the cryptocurrency‘s value above the 100-SMA. Furthermore, if the buying pressure exceeds 100K, the bulls’ path to $102,000 could be paved.

Bitcoin round from $90K, stabilized above $94K today.
Bitcoin round from $90K, stabilized above $94K today.

On the other hand, the bullish outlook should be invalidated if Bitcoin falls below $90,800. If this scenario unfolds, the correction phase could extend to the 23.6% Fibonacci retracement level at $88,011.

Latest Posts

Silver Dips Amid Overbought and China Economy Woes

FxNews—The XAG/USD prices dipped from $32.3, a decline that...

Gold Prices Hold Steady Ahead of Key US Inflation Report

FxNews—Gold hovered near $2,690 per ounce on Wednesday, pausing...

Natural Gas Prices Rally to $3.2 on High Demand

FxNews—U.S. natural gas began a bullish wave from $2.97,...

WTI Crude Oil Hits $69 as China Boosts Imports

FxNews—WTI crude oil futures recently reached about $69 per...

USDJPY Targets 153.3 After Bullish Breakout

FxNews—USD/JPY initiated a bullish trend from the 50.0% Fibonacci...

Silver Dips Amid Overbought and China Economy Woes

FxNews—The XAG/USD prices dipped from $32.3, a decline that...

Gold Prices Hold Steady Ahead of Key US Inflation Report

FxNews—Gold hovered near $2,690 per ounce on Wednesday, pausing...

Natural Gas Prices Rally to $3.2 on High Demand

FxNews—U.S. natural gas began a bullish wave from $2.97,...

WTI Crude Oil Hits $69 as China Boosts Imports

FxNews—WTI crude oil futures recently reached about $69 per...

Silver Prices Approach One-Month Highs Near $31

Silver prices have recently climbed above $31.10 per ounce,...

Gold Prices Reach $2660 Amid Global Tensions

Gold has climbed above $2,640 per ounce, reflecting its...

Gasoline Prices Rebound from 2-Month Lows

Gasoline prices rose from $1.92 (December 2, low) to...

Why U.S. Natural Gas Futures Are Rising

U.S. natural gas futures rebound as demand grows and...