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<p>Bitcoin price is poised to cross the $95,000 threshold. Analysts are optimistic about the $106,000 level. The cryptocurrency’s bullish momentum is bolstered by technical factors. Renewed&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/14/bitcoin-after-historic-93000-ath-wheres-the-next-stop/">market sentiment</a>&nbsp;driven by Donald Trump’s pro-crypto policies aids BTC’s recent run.</p> 
<p>Nevertheless, traders continue to be cautious, watching out for pullback zones at $85k and $81k before the next leg up.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis-strong-uptrend-with-resistance-ahead"><strong>Bitcoin Price Analysis: Strong Uptrend With Resistance Ahead</strong></h2> 
<p>Bitcoin’s daily chart signals an upward trajectory marked by higher highs and lows, eventually driving Bitcoin to the $93,509 mark The cryptocurrency has been trading above the ascending trendlines providing support during pullbacks.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="599" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-1024x599.jpg" alt="1-day BTC trading chart | Source: Tradingview" class="wp-image-840950" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-1024x599.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-300x176.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-768x450.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-150x88.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-696x407.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl-1068x625.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageU3Zspl.jpg 1341w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  1-day BTC trading chart | Source: Tradingview
 </figcaption>
</figure> 
<p>Current consolidation at the top of the trend may indicate some uncertainty due to higher price volatility at the $95,000 resistance level.</p> 
<p>The Relative Strength Index (RSI) is at 74.38, pointing to overbought territory and increasing the chance of retracement or consolidation.</p> 
<p>As long as the uptrend continues, analysts advise caution as RSI slows down suggesting waning bullish strength. Thus, the breakout above $95,000 may pave the way for further price increases toward the $100,000 mark and beyond.</p> 
<p>If it does not consolidate the present progress, downside barriers are at $85,000 or $81,000. These levels are regarded as entry points for conservative traders to buy. Meanwhile, the short-term trends remain generally bullish. However, traders are also focusing on the increased volume to confirm an additional upward move.</p> 
<h2 class="wp-block-heading" id="h-btc-jacksparrow-s-insights-rally-or-pullback"><strong>BTC_JackSparrow’s Insights: Rally or Pullback?</strong></h2> 
<p>The following are two short-term trades described by analyst BTC_JackSparrow.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Seeing potential for bitcoin price to fail here and tap 85 or 81ish before attacking 100+<br><br>Entirely possible to ignore the lower levels but risky to shove the shekels all in at this particular level without clear direction from this pause<br><br>Wise to shove shekels all in when this… <a href="https://t.co/G98PDB3K6b">pic.twitter.com/G98PDB3K6b</a></p>— //Bitcoin 𝕵ack 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f410.png" alt="🐐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@BTC_JackSparrow) <a href="https://twitter.com/BTC_JackSparrow/status/1858455707831415194?ref_src=twsrc%5Etfw">November 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>In the bearish case, the price may fail to rise above $95,000, suggesting a pullback to accumulate more liquidity at $85,000 or $81,000. This would create conditions for the market to strengthen before a better attempt to cross the $100,000 mark is made.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="516" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-1024x516.jpg" alt="BTC/USDT | Source: Tradingview" class="wp-image-840958" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-1024x516.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-300x151.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-768x387.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-1536x775.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-150x76.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-696x351.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU-1068x539.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageYvcYAU.jpg 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  BTC/USDT | Source: Tradingview
 </figcaption>
</figure> 
<p>Bitcoin might go directly to the $106,000-$108,000 range provided the momentum remains high.&nbsp; However, the analyst cautions traders to wait until a higher level of direction is established to avoid holding large open positions during periods of unsustainable prices.</p> 
<p>For conservative traders, entering the market at around $85,000 or $81,000 provides the best buying opportunity as it enables them to ride the next BTC rally.</p> 
<h2 class="wp-block-heading" id="h-trump-s-crypto-push-adds-optimism"><strong>Trump’s Crypto Push Adds Optimism</strong></h2> 
<p>Donald Trump’s unexpected embrace of cryptocurrencies has injected fresh enthusiasm into Bitcoin’s rally.</p> 
<p>His 2024 campaign includes policies aimed at establishing a strategic Bitcoin reserve, signaling a major shift in his stance on digital assets. This pro-crypto platform aligns with Trump’s broader vision of making the U.S. a global leader in blockchain innovation.</p> 
<p>Trump’s initiatives include the launch of World Liberty Financial, a venture focused on digital asset trading and blockchain development. His active engagement in blockchain conferences and advocacy for favorable regulations has bolstered confidence among investors.</p> 
<p>Market participants see these moves as pivotal for fostering a more welcoming regulatory environment for cryptocurrencies.</p> 
<p>This shift in sentiment has added a tailwind to Bitcoin’s price action, reinforcing its long-term growth narrative. Analysts believe Trump’s policies, coupled with technical strength, could drive Bitcoin’s rally toward its ambitious $106,000 target.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/20/bitcoin-price-eyes-106k-target-amid-trumps-crypto-boost/">Bitcoin Price Eyes $106K Target Amid Trump’s Crypto Boost</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Bitcoin Price Eyes $106K Target Amid Trump’s Crypto Boost

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