Bitcoin has zoomed past the $90k mark in a jiffy. The crypto has been in a non-stop rally after trump’s election win. BTC has added over $20k value per coin in this period.
In this article, we will talk about next btc target along with latest btc news and price analysis.
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BTC Next Target
- Price: $91,379.48
- Market Cap: $1.81 trillion
- 24h Trading Volume: $75.44 billion
- Circulating Supply: 19.52 million BTC
- Total Supply: 21 million BTC
Breakout the triangle pattern. An upward move is expected. Next target of $100k looks likely.
Weekly Price Analysis
- High: $93,243.90 (November 13, 2024)
- Low: $88,605.26
- The rise is largely attributed to optimism surrounding U.S. political stability post-election and renewed interest in spot Bitcoin ETFs.
- Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.
- Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is Overbought currently.
- Support and Resistance: Nearest Support Zone is $67,000.00, then $64,400.00.
Technical Indicators
- RSI (14): 68, indicating slightly overbought conditions.
- 50-day Moving Average: $85,672, showing upward momentum.
- MACD: Positive crossover observed, signaling continued bullishness.
- Support Levels: $88,500 and $86,200.
- Resistance Levels: $93,000 and $95,000.
Latest Bitcoin News
- The approval of strategic BTC reserve bills in U.S. states like Pennsylvania has fueled institutional adoption and confidence in Bitcoin.
- Bhutan recently disclosed a $33 million profit from Bitcoin sales.
- Bitcoin ETFs experienced $400 million in outflows.
- VanEck projects Bitcoin could reach $180,000 by 2025.
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