Bitcoin has recently weathered a storm of market turbulence, finding support just above a significant range bottom. But the pressing question on many traders’ minds is: Could this be the moment when the original cryptocurrency gears up for a robust rally towards the elusive $100,000 mark? As we navigate through potential geopolitical influences and economic developments—like U.S.-Russia dialogues and global interest rate adjustments—eyes are glued to whether Bitcoin can muster the momentum needed to attract more buyers. With its recent bounce off the $95,000 level and the world watching closely, it seems we might be on the cusp of an exciting chapter in Bitcoin’s story. Curious about this journey? You might want to buckle up and dive deeper into the dynamic world of crypto! LEARN MORE.Bitcoin has found support just above a longer-term range bottom.
Does this mean the OG crypto is ready to test higher areas of interest?
We’re looking at the big $100,000 mark on the daily time frame!
Bitcoin (BTC/USD) Daily Forex Chart by TradingView
Bitcoin’s been brushing off U.S. tariff threats and the higher-for-longer interest rate outlook in the U.S., with traders instead focusing on optimism from U.S.-Russia talks in Riyadh and rate cuts from other major central banks.
After sliding since mid-January, BTC/USD found support at the $95,000 psychological level. This isn’t just above the longer-term $92,000 support—it’s also hanging around the 100 SMA on the daily chart.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on bitcoin and the U.S. dollar, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
Can the OG crypto attract more buyers at these levels and make a run for higher areas of interest?
