Currently, the price of Bitcoin is around $95,000. Although today we saw the price of Bitcoin above $95,000. The movement that is currently being seen in the price of Bitcoin seems very positive and it seems that the price of Bitcoin can go upwards. The price of Bitcoin is in the same bullish trend from 76K. Even if you carefully analyze the hourly candles, you will see that it is close to the second bullish uptrend line. Currently, after the price of Bitcoin broke the vertical bullish uptrend line, the price of Bitcoin is supported by the second bullish uptrend line.
[source](https://pixabay.com/photos/bitcoin-cryptocurrency-finance-6555612/)
To understand this, you can look at the hourly chart of Bitcoin. Currently, if you review the hourly candlestick of Bitcoin, you will see that the price of Bitcoin is close to breaking the second uptrend line. We can see Bitcoin price stabilizing after breaking this uptrend line as before. However, it is important to watch if it breaks the hourly uptrend line and retests it to see if it comes back down. This has been tested 3 times before as the last bullish move. Here you can see the indicators on Bitcoin’s daily chart. If Bitcoin price breaks the second uptrend line on the hourly chart, then we can see a reversal on the Fisher indicator on the daily chart.
Even if you review it carefully, you will see that there is resistance in the MACD and RSI indicators of Bitcoin price. They can resist the indicators and Bitcoin price can reverse on the daily chart. For this scenario, we should see a few red candles every day. So, we should be careful. There is a negative situation on the table. If we see a few red daily candles, we can see that the price is reversing from 95K and this will be the new resistance level for the Bitcoin price chart. Although there is no negative news at the moment.
Even the market is currently in a favorable position. So we can see some good movement in the market and hopefully it can be on the upside. I think the Bitcoin price can go close to $100,000. But it can be different even if it is not like that. So nothing should be believed blindly. Moreover, Bitcoin CME has a gap above $91,900. Now it is also a matter of seeing if it fills it. If so, then we can see the Bitcoin price going down. Unless something exceptional happens, we could soon head towards $100,000 and if it breaks, we could see a new all-time high. So, instead of blindly believing in this position, be cautious and stay alert in the market with sound analysis.
