-Bitcoin (BTC) is consolidating below the psychological resistance of $100,000. Traders are now scrutinizing key levels that BTC needs to retrace before attempting to push the price above the
new $100,000.In particular, CrypNuevo has set an important price target to confirm upward momentum and a potential breakout to the $100,000 mark. According to a post dated 11/29/2019, if #bitcoin returns to 98,300, a trader is ready to open a long position.
Push104k - If you want to see a stronger jump to 1,105k, bitcoin needs to be above this key level: 9,98.3k. When I regain the 9,98.3k level, I will return to a long position.
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At the time of publishing this article, bitcoin was trading at 95.312 bitcoin, but was still below the uptrend line that #BTC faced as resistance. Re-establishing the uptrend and regaining the 998,300 level, which is under a lot of selling pressure, is the key to continuing the rally.
What awaits bitcoin after overcoming this level?
Continuing its analysis, CrypNuevo points to a high level of liquidity between 99,000 liquidity1 and 100,000. This means that a significant amount of liquidity is waiting for a trader to rise above the key 98,300 levels.
trading in this recovery and consolidation zone could lead to clearing targets and the start of a short decline. This creates a favorable scenario for bitcoin bulls targeting the 100,000 to 105,000 bitcoin area.
Ash Crypto, an account with 100 million followers, noted that bitcoin has returned to the 97,000 bitcoin level and is aiming for 100,000.
analysts are wondering what will happen after BTC reaches the long-awaited 100,000 mark. The idea is a number of cautious forecasts foreshadowing a quick breakout over 100000 after a correction. At the same time, others have already set targets of over 200000.
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