bullish

World

Bitcoin

Green

Rise

<p>Bitcoin is currently down by more than one percent and is trading slightly above the $98k mark. After hitting an ATH of $98655, the cryptocurrency hit reverse and even dipped below the $96k mark.&nbsp;</p>   
<p><a href="https://www.youtube.com/watch?v=14ZZu79PkiA" target="_blank" rel="noreferrer noopener nofollow">However, analyst Josh of Crypto World</a> said that the weekly Bitcoin chart shows strong momentum, with the <a href="https://coinpedia.org/traders/moving-average-convergence-divergence-macd/" target="_blank" rel="noreferrer noopener">MACD</a> indicating a bullish trend. The Super Trend indicator on the 4-day chart is also green, suggesting continued bullishness. While short-term pullbacks are normal, the long-term outlook remains positive.</p>   
<h2 class="wp-block-heading" id="h-short-term-price-action-pullbacks-amp-support-levels"><strong>Short-Term Price Action: Pullbacks &amp; Support Levels</strong></h2>   
<p>Despite the bullish outlook, BTC is seeing a short-term pullback. The price of Bitcoin is showing signs of losing momentum, especially around the critical $100,000 level, which acts as a psychological resistance. Pullbacks are expected at levels around $94,000 to $95,000, with further support at $89,000 if the price drops lower. </p>   
<h3 class="wp-block-heading" id="h-bearish-divergence-historical-parallels"><strong>Bearish Divergence: Historical Parallels</strong></h3>   
<p>Bitcoin is experiencing a short-term bearish divergence, similar to the price action seen in 2020 before a major breakout above $20,000. Just as the price struggled under that psychological level, the price may see a temporary pullback below $100,000 before eventually breaking through. The current situation shows a similar pattern with a higher price and lower (<a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative strength index</a>) RSI, hinting at a loss of short-term momentum.</p>   
<h3 class="wp-block-heading" id="h-bitcoin-s-pullbacks-historical-context"><strong>Bitcoin’s Pullbacks: Historical Context</strong></h3>   
<p>It's important to note that Bitcoin’s pullbacks, even in a bull market, are often bearable. The current 3-4% pullback from the recent highs is small compared to past corrections, such as the 16-17% pullback in 2020.</p>   [post_titles_links postid="384772"]   
<h3 class="wp-block-heading" id="h-liquidity-and-short-squeeze-potential"><strong><strong>Liquidity and Short Squeeze Potential</strong></strong></h3>   
<p>Currently, liquidity is building above the $100,000 level, which could trigger a short squeeze if Bitcoin breaks through that level. This would force many <a href="https://coinpedia.org/news/btc-slips-to-96k-liquidations-near-500m-why-is-bitcoin-dropping/" target="_blank" rel="noreferrer noopener">short positions to liquidate</a>, driving the price even higher. Downside liquidity is more limited, but we still have support at around $94,000, with further support levels around $91,000.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732517709376">
  <strong class="schema-faq-question"><strong><strong>What is the Bitcoin price prediction for this month?</strong></strong></strong> 
  <p class="schema-faq-answer">With a potential surge, the Bitcoin (BTC) price may close the month with a high of $100,000.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732517722490">
  <strong class="schema-faq-question"><strong><strong>How much will $1 Bitcoin be worth in 2030?</strong></strong></strong> 
  <p class="schema-faq-answer">In 2030, the price of 1 Bitcoin could reach a height of $347,783.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732517758796">
  <strong class="schema-faq-question"><strong><strong>How much is Bitcoin today?</strong></strong></strong> 
  <p class="schema-faq-answer">At the time of writing, 1 Bitcoin value was $98,211.45.</p> 
 </div> 
</div>

Can Bitcoin Price Rise Above $99k Today? Indicators Turn Green Despite Pullback Below $96k

Table of Contents

CoinPedia News

Other articles published on Nov 25, 2024

BTC Hits $98K Amid Market Gains and Extreme Greed Sentiment

Michael Saylor’s MicroStrategy Lands Fresh 55,500 Bitcoin Units

Bitcoin Surges Past $81,000 Amid Trump’s Victory and Pro-Crypto Political Shift

Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins

Discover the Top 4 Crypto Presale to Watch for Massive Gains in 2025

Dogecoin (DOGE) and XRP Shine as Crypto Liquidations Hit $493 Million

Join our free newsletter for daily crypto updates!