bullish

Rally

Bitcoin

Resistance

<ul class="wp-block-list">
 <li>Bitcoin's bullish momentum points to $100K, with key resistance levels and market trends supporting the rally.</li>  
 <li>Analysts highlight the crucial $98,500 level for Bitcoin's potential breakout towards new highs.</li>  
 <li>Bitcoin's steady uptrend and balanced indicators suggest strong momentum and a $100K breakthrough soon.</li> 
</ul>  
<p>Bitcoin's price movement nears the $100,000 mark after displaying a sustained uptrend. <a href="https://x.com/ali_charts/status/1863123617925431363" target="_blank" rel="noopener noreferrer nofollow">Ali</a> a crypto analyst, emphasized the market's historical patterns, referencing previous CME gaps and their impact on price behavior. Meanwhile, <a href="https://x.com/52kskew/status/1863162798081232918" target="_blank" rel="noopener noreferrer nofollow">Skew</a> pointed out critical levels, such as $98,400, which could act as a catalyst toward new highs.</p>  
<h2 class="wp-block-heading" id="h-significant-resistance-zones-mark-bitcoin-s-path">Significant Resistance Zones Mark Bitcoin's Path</h2>  
<p>Bitcoin started the week with a promising uptrend, supported by higher lows and consistent buying momentum. According to Skew, Bitcoin surged from the monthly open of $96,672, confirming this level as immediate support. Besides, the price breached significant resistance zones, consolidating near $97,000 while eyeing the $98,500 mark as the next hurdle.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcTjAwOpSRWjpJR_LGNavLcFwWKD32nLoD4vDYkUM-B18GlojxkF-xDdXVmS6FXCUOkjGpE_0L_pPZ9tyV7-fZ3HsiIx2HLNAU7-NUEmkIqCHkd3wqU0i5kJFHXV9zyMaK3uzkd5A?key=2HRoRQl9WZmox0z_tkBJSBR0" alt="">
</figure>  
<p>Source: <a href="https://x.com/52kskew/status/1863162798081232918" target="_blank" rel="noopener noreferrer nofollow">Skew</a>&nbsp;</p>  
<p>Notably, Ali highlighted Bitcoin's resilience in surpassing previous resistance levels, particularly the crucial $60,000 and $70,000 zones. Furthermore, historical patterns show the potential for delayed CME gap fills, hinting at prolonged price movements toward higher targets.</p>  
<h2 class="wp-block-heading" id="h-indicators-suggest-strong-bullish-momentum">Indicators Suggest Strong Bullish Momentum</h2>  
<p>Technical indicators reinforce Bitcoin's bullish trajectory. The Relative Strength Index (RSI) remains stable, reflecting moderate buying pressure without overextension. Consequently, this signals a balanced momentum, reducing the risk of sudden reversals.</p>  
<p>Moreover, the Stochastic RSI displayed a bullish crossover in its oversold zone, supporting the ongoing price rally. This crossover typically suggests increasing buying interest, further aligning with Bitcoin’s upward trend. Bollinger Bands, meanwhile, remain moderately wide, indicating balanced market volatility, with the middle band acting as a dynamic support.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-poised-for-100k-breakthrough">Bitcoin Poised for $100K Breakthrough</h2>  
<p>Bitcoin's current price action has given analysts hope about its ability to breach $100,000. Skew emphasized that clearing $98,500 could trigger a rally, with $100K supply zones within reach. Additionally, Ali’s insights on historical trends suggest that while CME gaps may linger, the overall trajectory remains bullish.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeCzxmGzFqe4yK8qAp5hqE2rEIcEN2QhBbITdpihS-5uQN0UrM_xcPrkftTW-0TNb9W5H_X9vgh3nm1JaINk-zOUXayTnB9Mv-yXaL9-mKFvD7ITaMyZkLPT_d1EyOqTrvZFCyW8Q?key=2HRoRQl9WZmox0z_tkBJSBR0" alt="">
</figure>  
<p>Source: <a href="https://x.com/52kskew/status/1863162798081232918" target="_blank" rel="noopener noreferrer nofollow">Ali</a></p>  
<p>Significantly, Bitcoin’s ability to sustain higher lows and consolidate gains near critical levels underscores strong market confidence. With momentum intact and key indicators aligning, the cryptocurrency appears well-positioned to challenge the psychological $100K barrier.</p>   
<p>The post <a href="https://cryptonewsland.com/bitcoin-nears-100k-as-critical-resistance-zones-and-bullish-indicators-drive-rally/" rel="noopener noreferrer nofollow">Bitcoin Nears $100K as Critical Resistance Zones and Bullish Indicators Drive Rally</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Nears $100K as Critical Resistance Zones and Bullish Indicators Drive Rally

Table of Contents

Crypto News Land

Other articles published on Dec 2, 2024

Binance Airdrop Portal Welcomes Thena (THE) as Second Project

Nabla Finance Public Sale: Redefining DeFi With Unmatched Yields

HyperLiquid HYPE Token Launch: Everything You Need to Know

Japan Exchange DMM Bitcoin to Liquidate Assets Through SBI Group

XRP Price Targets $4.30 as it Surpasses Solana and USDT with Stunning 364% Rally

Blue-chip NFTs Floor Prices Rise +10%, The Highest Since Feb 2024

Join our free newsletter for daily crypto updates!