Crypto price prediction: Bitcoin (BTC) current price movement representing critical crossroads, more push will stand for bullish

Bitcoin's price prediction:

Bitcoin (BTC) started the year with a strong performance, briefly climbing to $97,744 after rebounding from a solid support level at $91,700. Despite the positive start, the cryptocurrency struggled to sustain momentum as it encountered resistance around the $97,000 mark. This resistance was reinforced by the 20- and 50-day simple moving averages (SMAs), which acted as barriers to further gains. Adding to the cautious outlook, the Relative Strength Index (RSI) has been unable to maintain a firm position above its neutral level.

Traders are closely watching the $97,000-$99,540 range, as a clear break above this zone could pave the way for a more significant rally. If Bitcoin (BTC) manages to surpass the $102,500 level, previously a strong support, it could open the door to challenge the all-time high of $108,379. Beyond that, optimism could extend toward $110,460 or even the $114,000 mark, as momentum builds in a favorable scenario.

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On the flip side, if Bitcoin fails to hold above $91,700, the market could shift into a downward trend. A pullback might lead the price to test the $88,100 support zone. If this level fails to provide stability, traders may look to the 100-day SMA as the next defense point. However, if the decline continues and the SMA gives way, the $85,000 level could come into play, with the $80,000 psychological barrier serving as a final line of defense.

This current phase represents a critical crossroads for Bitcoin (BTC). A sustained push above $97,000 would signal a renewed rally and a potential return to bullish sentiment. Conversely, an inability to break through the resistance levels could shift attention back to the $91,700 base, increasing the likelihood of further downside risks.

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Bitcoin is navigating a make-or-break moment. The price action in the coming days will likely determine its short-term direction, with traders and investors closely monitoring key levels for clues about the next move. Whether Bitcoin (BTC) breaks out to new heights or retreats to lower levels, the cryptocurrency market remains as dynamic and unpredictable as ever.