FxNews—Bitcoin trades bullish, ignoring overbought signals from the momentum indicators. Yesterday, the BTC/USD price exceeded $95,000, resulting in a new momentum in the uptrend.
As of this writing, the digital gold trades at approximately $99,500, nearing the psychological level of $100K.
The immediate support is at $95,000. The outlook of the uptrend remains bullish as long as the prices are above the immediate resistance. In this case, the next bullish target could be the $100,000 threshold.
On the other hand, a new consolidation toward $84,550 could emerge if bears (sellers) push the Bitcoin prices below 95K.