The post Bitcoin Price Touches $100K: Will It Skyrocket or Crash? Find Out Now appeared first on Coinpedia Fintech News
Bitcoin has finally reached the monumental $100,000 mark. While some exchanges show it just shy at $99,800, others like Coinbase are already celebrating Bitcoin over $100K. Regardless of the exact number, the milestone is here, and it’s generating a massive buzz.
This $100,000 price is a huge psychological barrier, and many are now wondering: what’s next? With the holidays approaching, crypto is getting a lot of attention, and Bitcoin’s rise is a big part of that.
Bitcoin is approaching a potential long-term top, but it’s still unclear whether we’ve reached it yet. While altcoins have some time to hit their targets before Bitcoin peaks, it’s important to remember that historically, most altcoins tend to fall after Bitcoin reaches its top. Although there can be a delay for some altcoins, once Bitcoin tops out, it often signals a broader market correction.
Understanding ‘What’s Next’ For Bitcoin
Currently, Bitcoin is moving toward critical levels but may still rise a bit higher before reaching its peak. The target for Bitcoin’s cycle is around $130k, with a possible extension to $190k, though these levels have not been confirmed yet. A correction phase is likely to start once Bitcoin’s wave count completes.
Bitcoin is currently facing resistance in the $98k–$112k range, and the key level to watch for the cycle’s peak is $130k. If Bitcoin hits these targets, we might see a correction. The short-term price action still shows room for Bitcoin to rise within the current wave, but on the 1-hour chart, there’s potential for a push higher before entering a correction. Immediate support for this wave is between $78k and $86k.
Bitcoin dominance has recently peaked and could reverse soon, as it faces strong resistance. The Bitcoin dominance chart suggests we’re nearing the end of a rally, and a pullback could be on the horizon.