Bitcoin is moving in a tight range! A new breakout may be on the horizon

Crypto News - Bitcoin price is still moving within a larger uptrend. In the weekly Bitcoin price chart, we are forming higher lows and higher highs, not operating in naked market conditions. The Bitcoin Super Trend Indicator is also positioned in the green zone, indicating a bull market. However, we have confirmed a bearish crossover in the Bitcoin MACD indicator, which presents a signal we need to pay attention to. This indicator does not imply a major collapse, it simply indicates volatile price movements. There is a significant lack of momentum in the Bitcoin price.

Bitcoin price is recording a jump from the range of 95,000 to 96,000 dollars in the short term, and if it confirms the daily candle close above these levels, the next support is at 99,000 dollars. If there is a close above 100,000 dollars in Bitcoin, the next target would be in the range of 101,000 to 103,000 dollars. Otherwise, if we break below 95,000 dollars, there is a strong support line at 92,000 dollars. The leading asset is breaking upwards from the expanding wedge pattern at the time of writing, with the initial price target at 99,500 dollars.

The secondary price target is the $103,000 level, positioned as a resistance point. The Bitcoin price confirmed this break with a candle close. Under the current conditions, giving a first price target of $99,500 could be a reasonable estimate. Crypto analyst Crypto World says that if a break below $97,800 occurs, the price target will be invalidated.

The information in the text is purely informative. It does not constitute any investment advice. The author and kriptoparahaber.com are not responsible for any profit or loss arising from your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

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