Will Bitcoin Price Hit $100k In Next 24 Hours?

Story Highlights

• The BTC price retests the $98,000 mark today.
• Bitcoin technical indicators record bullish sentiment, hinting at a higher price target.
• The star crypto is only $2,422.72 away from achieving the $100k mark.

With an intraday jump of 3.82% and a trading volume of $91.29 billion, the Bitcoin price has achieved a new all-time high of $97,862.64. With this, the market is highly anticipating the star crypto to hit the $100k mark in the upcoming hours.

Amid the present market conditions, will BTC price slingshot to $100k soon? Moreover, will the price maintain its bullish action after hitting the $100,000 mark? Or will the price experience a significant correction soon after?

BTC Price Hits New ATH!

With a monthly gain of 44.38%, the largest cryptocurrency by market capitalization has achieved a new high by surpassing the $1.9 Trillion mark. Notably, with a trading price of $97,577.28, it is presently valued at $1.915 Trillion.

Notably, the Bitcoin token successfully retested the $90k mark following which the star crypto has recorded 4 consecutive green candles, resulting in it surpassing the $97,000 mark during the early Asian trading hours.

Bitcoin Technical Sentiments

The EMA 50/200-day continues displaying an upward trend in the daily time frame. This suggests a bullish outlook for the BTC price in the upcoming time.

Further, the Relative Strength Index (RSI) continues hovering above the overbought range with its average trendline experiencing a similar trend action. This indicates a significant increase in the buying pressure for Bitcoin in the market.

How High Will The BTC Price Go?

Maintaining its bullish sentiment could push the Bitcoin price toward its target price of $100k this weekend. Furthermore, if the bullish sentiment sustains, this could result in the market leader heading toward its upper high of $110,000 this month.

On the contrary, if a bearish trend reversal occurs, the BTC price will retest its $90,000 range. Moreover, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $80,000.

Curious about what’s next after this crypto token hits $100k? Read CoinPedia’s Bitcoin Price Prediction and also follow us to stay updated on the latest crypto news!

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