Bitcoin’s price action is at a crucial inflection point as investors watch the $98,000 support level closely. A drop below this threshold could signal a deeper pullback, while a rebound might set the stage for a renewed rally toward fresh highs.
Technical Analysis
Recent price charts show Bitcoin consolidating in a tight range. Below $98,000, momentum indicators turn bearish, opening the door to a slide toward $90,000. On the upside, breaking above $100,000 with volume could reignite bullish sentiment and drive prices back to test previous peaks.
Expert Forecast
Analysts at B2BinPay highlight a key zone between $111,945 and $115,365. Holding this corridor could be pivotal for sustaining the uptrend:
- If Bitcoin climbs above $115,365, the path to new all-time highs becomes feasible.
- Failure to reclaim $111,945 could lead to consolidation around $98,000.
Market Sentiment
Trader sentiment has shifted to cautiously optimistic, with on-chain metrics indicating accumulation by long-term holders. Volume spikes near support levels suggest strong buying interest, reinforcing the positive outlook.
