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Cryptocurrency News Articles

Bitcoin (BTC) Price Prediction: Will This Breakout Rally Propel Bitcoin to its $103k?

Feb 06, 2025 at 05:43 pm

As Bitcoin stabilizes above the $96,000 mark, an intraday reversal hints at a strong bullish comeback. Furthermore, speculations in the crypto market

Bitcoin (BTC) Price Prediction: Will This Breakout Rally Propel Bitcoin to its $103k?

Bitcoin price trend finally ends the streak of lower-low formations as it takes support at the 38.2% Fibonacci level at $96,700. With this lower price rejection, a short V-shaped reversal is forming.

Currently, Bitcoin trades at $98,242 and challenges a short-term resistance trendline. Along with the trendline, Bitcoin also faces opposition from the 50% Fibonacci level at $98,611.

However, the declining funding rate suggests lingering bearish pressure, making the $94.3K support a crucial level to watch.

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Other articles published on Feb 06, 2025