- Bitcoin has reached a historic ATH of $103.6K, sparking speculation about its next move
- Key supply and demand zones indicate possible scenarios: retracement or a new ATH
- Predictions highlight strong bullish momentum, but caution is necessary in this volatile market
Bitcoin has done it! After years of speculation, the price of BTC surged past the $100,000 mark, setting a fresh all-time high (ATH) at $103.6K.
A Look Back at Predictions
Over the past days, we’ve been tracking Bitcoin’s moves closely, and the price action has played out exactly as we anticipated. Here are the key points from our prior analysis:
- Three Days Ago: We identified an interesting demand zone following a liquidity grab, where BTC could potentially react and aim for $100K.
- Yesterday: We observed how BTC reacted to the demand zone we had previously identified. Following that, we outlined a new potential movement to reach the $100K mark.
- Today: The price has reached a new all-time high (ATH), hitting $103K—an impressive move that we at Bitcoinsensus had anticipated for several days
It’s thrilling to see how these predictions have aligned with Bitcoin’s movements, but what’s next?
Breaking Down Current Price Action
Zooming into the M5 timeframe, BTC is currently interacting with a supply zone identified on the M15 chart. Here’s what we’re observing:
- Initially, the price reacted to the M15 supply, but the level didn’t hold.
- Now, Bitcoin sits in the extreme supply zone, a make-or-break level before another possible ATH.
Two key scenarios could unfold from here:
- Scenario A: The price respects this supply zone, retraces to seek liquidity below, and possibly reacts around a demand zone to regain momentum.
- Scenario B: The bullish momentum overpowers the supply, and BTC breaks higher to form a new ATH.
What to Expect
Bitcoin’s momentum is undeniably strong, but as always, the market remains unpredictable. While the scenarios outlined provide insight, there’s no absolute certainty about the next move.
Whether BTC respects the current supply or pushes upward, it’s crucial to watch these levels closely.
Final Note
Remember, all analyses provided here are for informational purposes and should not be taken as financial advice. Bitcoin’s path to $100K has been historic, and what happens next could define the next phase of its journey.
Stay tuned for updates as we track BTC’s progress toward new milestones.
