BTC has been trading in the red resistance zone since yesterday. There is a sell wall between $98,000 and $100,000. I have emphasized that it will be difficult to break through $100k, but BTC has done a pretty good job of pushing into resistance. So far there has been a peak around $99.5k, but we have now dropped below $98k resistance and could start trending down soon. I would continue to monitor $98k, and I have $94.6k as my next key support level if BTC starts to trend down.
BTC Continues to Show Bullish Momentum
BTC is continuing to show bullish momentum into the red sell zone between $98k and $100k. We’ll see if we hit 6 figures or get a blow off top. Jim Cramer just flipped bullish, which should be concerning and hilarious if this turns out to be the top. For now all eyes on that $100k price level for a break or rejection. Keep in mind next week Trump has a criminal court case and there’s Thanksgiving break. I think both could cause a selloff.
BTC Continues Trading in the Red Resistance Zone
BTC has formed a new all time high around $99,800, which is just shy of the $100k price target. We’re starting to see some red again, but BTC is holding up pretty well at $99k. All eyes on $100k for that break or rejection. Looking good so far, if there is a breakout I have $108k as my target. If the price breaks down I have $95.2k, $92.1k and the light blue zone between $89.3k and $90.2k as key levels to monitor on the way down.
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