Bitcoin's (BTC) price has reached the psychologically significant milestone of $100,000. BTC price analysis from CryptoGuestPosts.

Bitcoin price long-term forecast: bullish

The Bitcoin price peaked at $99,800 on November 22 before falling. The cryptocurrency is stalling below the $100,000 level of resistance but consolidating above $98,000.

The candle on November 22 shows a prominent tail, which indicates significant buying pressure near the current support. The cryptocurrency may rise further if the bulls maintain their position. Bitcoin will rise as long as buyers maintain the $93,000 breakout and surpass the $100,000 level. Bitcoin will reach a peak of $115,000.

Bitcoin, on the other hand, will fall if bears break below the $93,000 level of support. The value of the cryptocurrency will drop to a level above the SMA 21-day or an amount as low as $85,240. Bitcoin currently has a value of $98,200.

Bitcoin indicator reading

Bitcoin's price has stagnated after reaching a record high of $98,800. Doji candles or mini-indecision candles have appeared. These candlesticks indicate that traders are hesitant as Bitcoin stops just below its recent peak. The 21-day SMA is supporting the cryptocurrency's upward trend.

Technical Indicators:

Resistance levels - $80,000 to $100,000

Support levels - $70,000 and $50

What is the BTC/USD cryptocurrency leg?

Bitcoin has been on a mild rise since breaking through $93,000 resistance. Due to doji candles, Bitcoin has been trading moderately since the breakout. Bitcoin is currently trading above the SMA of 21 days as the market continues to rise.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.