A few days ago, Bitcoin managed to break the resistance price area of around $44,400. Bitcoin price tested this area 4 times and only recently did it manage to break it higher. The daily chart of Bitcoin in figure 1 confirms this break and refutes a fakeout, as we can see more than 3 candles above that line to date.

It is not unlikely to see Bitcoin prices adjust a bit lower after an extended uptrend. For 7 straight days, Bitcoin prices managed to increase in price without any retracement. This theory comes especially at a time when BTC price broke the major resistance of $44,400. This area can soon turn into a support level, giving prices a breather to continue on their uptrend and reach higher price areas.

Keep in mind that when Bitcoin adjusts lower, many other altcoins will do the same. In figure 2, we can estimate where Bitcoin can go down towards. Hence, a sensible stop-loss for traders who just bought above that price would be around $44,300 or lower. This SL area depends on the trader's risk appetite.

If the crypto market as a whole continues to increase, there is no doubt that Bitcoin prices will follow as well. In fact, Bitcoin still has a significant dominance over the cryptocurrency market of around 42.1%. This means that from the total market capitalization of the entire crypto market being around $2.1 Trillion, Bitcoin's market cap accounts for more than $800 Billion.

On the other hand, breaching the psychological price of $50,000 and consolidating higher would hint at a potential future BTC price of $60,000. In figure 3, we can clearly see the trajectory of Bitcoin given that the uptrend continues.

Higher crypto prices help in pushing uptrends further. In the past 7 days, most altcoins were seen up. Cardano, Solana, and Dogecoin topped the performance in the list of the top 10 cryptos by market cap. Here is the performance of the top 10 cryptocurrencies by market cap:

#1 Bitcoin (BTC): + 14.33 %

#2 Ethereum (ETH): + 14.47 %

#3 Tether (USDT): + 0 %

#4 Binance Coin (BNB): + 10.39 %

#5 USD Coin (USDC): + 0 %

#6 Ripple (XRP): + 8.59 %

#7 Cardano (ADA): + 36.99 %

#8 Solana (SOL): + 22.25 %

#9 Terra (LUNA): – 0.94 %

#10 Avalanche (AVAX): + 0.25 %

The day is finally here! Bitcoin managed to finally breach its all-time high price of USD 64,400. This led the entire cryptocurrency market to rally and push upwards. Volumes across exchanges are smashing high while investors who sat on the fence are jumping in again. Now that the ATH price is crossed, where will Bitcoin price reach? Will Bitcoin price reach 100k next?

Recently, the cryptocurrency market was consolidating while Bitcoin started to show a fast recovery in prices. News surfaced about the ETF approval, the fact that made investors more confident towards crypto adoption. Usually, one of the biggest fears that crypto investors have is the legitimacy of such cryptocurrencies. Now that the ETF news is confirmed, this big door opened to traditional investors to come in.

The market is showing a big positive attitude towards those events, and investors who were sitting on the sidelines are jumping back into the crypto game.

Now that momentum is back on track, and that Bitcoin crossed its all-time high price, it is very likely that prices will continue towards 100K. This is no surprise as the important milestones for BTC are the following:

• 10K
• 20K
• 40K
• 50K
• 66K (previous all-time high)
• 100K

Naturally, since we crossed the 66K, the next milestone where prices are likely headed towards would be the 100K. In fact, many analysts already predicted this price to be reached many years ago. Today marks yet an important milestone reached, and hopefully, another one accomplished.

If Bitcoin were to reach 100k today, this would mean an easy continuation of the uptrend within the next weeks. Fundamental news should also come in tandem with those elements.

Stay Ahead, Stay Updated
Rudy Fares

Bitcoin managed to gain massive momentum recently. In fact, it looks like it's on its way back to its previous all-time high of 65K. On the other hand, many skeptics are still finding it hard to witness such a high price for something that "doesn't exist" in the physical world. This led to a high price fluctuation recently, and it's the traders who are benefiting the most. Today, crypto enthusiasts are asking themselves if it's even worth it to buy Bitcoin at the current prices. Should you buy Bitcoin today? Can prices still rise to their previous highs? Do we really have a Bitcoin 60K setup?

If we disregard the hearsay that happens around us and focus purely on the technical aspects, it seems as if prices are increasing in a healthy uptrend. Now you might be asking...what the hell is a healthy uptrend? Well, any heavy price increase comes with an adjustment afterward. This phenomenon comes from many factors such as day traders liquidating their positions for profit-taking, an overall consensus on an overbought price leading to short-selling...

In Bitcoin's case, we can clearly see price adjustments along with the recent uptrend. Looking at figure 1, the occasional price adjustments are crystal clear. This is the perfect dream of a day trader, who usually uses those bottoms to place stop-loss orders.

Psychological prices are very important when dealing with cryptocurrencies, and especially for Bitcoin. Today, we are nearing the 50K price mark. If prices manage to break this 50K area and consolidate for a while, we are most likely on our way to continue to 60K again. Of course, that's provided if good fundamentals were also in place.

Looking at figure 2, we can see how a potential break of the 50K area signals another bullrun. On the other hand, day traders should plan for the worst and place stop-loss levels around the 45K following the Fibonacci Retracement.