Bitcoin is hanging tough above $100,000 despite some recent negativity. This is a crucial level for bulls; losing it would signal a major shift. Trading volume is all over the place, showing investor uncertainty. While some predict a crash, others, like analyst Master Ananda, see a continued upward trend.
Why $115,482? Master Ananda’s Prediction
Master Ananda believes Bitcoin will not only bounce back but hit new all-time highs. He points to the June 13th crash, which stopped just above $102,000. He interprets this as the end of the bearish trend.
Bitcoin’s recovery has pushed it above key Fibonacci retracement levels and several moving averages (EMA34, EMA21, 3MA13, and EMA8).
Key Support Levels: To keep the upward momentum going, Bitcoin needs to hold above $105,293 and $105,314. If it falls below, the next support levels are $104,533 and $104,282 (the 0.618 Fibonacci retracement).
Resistance Levels and the Path to New Highs
To really rally, Bitcoin must break through resistance levels. The main hurdles are $106,625 and $107,559. Conquering $107,559 opens the way to $108,989, then $110,586. Success at $110,586 could propel Bitcoin to new all-time highs; failure could send it back towards $100,000.
Master Ananda’s analysis suggests a final target of $115,482 for this rally. He summarizes his bullish outlook: “The 1H timeframe is bullish now based on price action, candlestick patterns, higher lows, moving averages, and the oscillators.”