Bitcoin Nears the $100K Barrier
Bitcoin’s price is approaching the $100,000 mark, with buyers dominating the cryptocurrency market. The Federal Reserve’s decision to maintain interest rates in the range of 4.25% to 4.5%, along with U.S. President Trump’s significant announcement relating to customs tariffs, have created substantial expectations within the market. As BTC continues to capture institutional interest, its current climb has progressed slowly toward a critical resistance level, despite limited individual participation. Technical indicators suggest that Bitcoin
$99,271 could surpass $125,000 in a subsequent surge.
Bitcoin Nears the $100K Barrier
Bitcoin has been following a continuously rising channel in recent times. The daily chart, characterized by successive rising lows and higher peaks, indicates a stable uptrend. BTC’s ability to hold above $95,000 brings it swiftly toward the psychological barrier of $100,000.
The Fed’s decision to leave interest rates unchanged during its May FOMC meeting was an anticipated outcome. However, Trump’s “big deal” announcement has maintained institutional investor interest, awarding Bitcoin additional momentum. These factors have kept individual participation limited while paving the way for a rise scenario dominated by institutional purchases.
Technical Indicators and Short-Term Targets for Bitcoin
The weekly MACD indicator is poised for a bullish crossover signal. The decrease in selling pressure suggests that momentum might return to the buyers. Meanwhile, the RSI, after leaving its bottom at 40, has rapidly moved upward.
Given Bitcoin’s current technical outlook, if a double bottom formation is completed and the RSI rises above 50, a strong rally could manifest. Surpassing the critical resistance level of $116,891 may propel Bitcoin’s price toward $150,000, or even as high as $200,000.
Conversely, a pullback from $116,891 could trigger a return to the support region at $90,000. Should the rising wedge pattern break, a scenario where prices fall below $70,000 remains a possibility.
