The post Bitcoin Price To Possibly Hit $100000 In Next Few Hours appeared first on Coinpedia Fintech News
Bitcoin is currently trading above the $97,000 level and the price is up by more than four percent in the last 24 hours. The largest cryptocurrency has recently hit a significant bullish price target and is now breaking into new all-time highs. Bulls almost touched the $98,000 mark, before hitting a reverse after touching the $97,862 mark. Now that bullish momentum has been confirmed, the $100k price target is finally in sight.
The cryptocurrency is now finally heading towards a major price target in the short term and this price target of $100k has been keeping investors on the edge lately. According to analyst Josh of Crypto World, Bitcoin is breaking through a key resistance level and turning it into support in the short term and a new Bitcoin short squeeze has officially begun.
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Bitcoin Is Showing Strong Bullish Signals
On the weekly chart, the MACD indicator is showing significant bullish momentum, similar to last October, which led to a huge bull run that lasted several months. The 4-day chart also shows a larger bullish trend with the SuperTrend indicator in green. Bitcoin has recently hit a new all-time high of $94,000 to $95,000, and breaking above this range could lead to a move above $100,000 very soon.
The next price target is around $102,000, where Bitcoin could face some resistance. If Bitcoin breaks this level, it could continue to rise toward $113,000. The current breakout from a symmetrical triangle pattern on the 6-hour chart is also bullish, with resistance flipping to support.
A short squeeze is underway, especially with significant short positions near the $95,000 to $97,000 range. As these positions are liquidated, more buying pressure will push the price higher, potentially sending Bitcoin toward $100,000 and beyond. This trend aligns with the current Bitcoin price prediction, showing strong upward momentum.