PakGazette – Although the current state of the market indicates that it may not happen anytime soon, the $100,000 trip has been a hot topic. Analysts are comparing the $60,000 to $70,000 range that dominated most of 2024 to the current market.
Master range trading
With buyers entering near $90,000 to profit from dips, Bitcoin appears to be stuck in a tight trading range (BTFD). Because the $90,000 zone is strong support and aligns closely with the 50 EMA, this strategy has proven to be successful. The $100,000 mark has become a technical and psychological barrier where traders want to lock in profits. There is no new stimulus in the broader market to support a breakout.
Institutional flows such as ETF approvals or major corporate purchases are not growing fast enough to push prices above $100,000. Additionally, short-term traders continue to de-risk their positions as Bitcoin approaches a crucial resistance zone, although long-term holders are comfortable building at these levels.
A consolidation pattern can be seen on the Bitcoin price chart, with the RSI surrounding the neutral 50 level. This suggests that there is not much momentum in either direction. The low volume indicates that neither the bulls nor the bears are in full control. At $90,000, there is immediate support; If this level is broken, the 100 EMA around $87,000 may become accessible.
To retest the $100,000 level, there must be a clear break above $97,000. It is still possible for investors who are unsure about range trading to hold spot positions. Bitcoin’s long-term potential is unaffected by changes in the macroeconomic environment, but short-term volatility and range-bound movements will likely continue.
