Bitcoin Price Achieves $94k, BTC Price Eyes To Hit $100k This Weekend?

Story Highlights

Bitcoin price records a new ATH of $94,002.87 on 20th November. The technical indicators record increased price action, hinting at a further rise. BTC ETF sees a net inflow of over $800 million.

With an intraday jump of ~1%, the Bitcoin price has hit a new all-time high (ATH) of $94,002.87 during the early Asian trading hours. Following this, the Bitcoin ETF has experienced a significant inflow in the last 24 hours.

Will the rising bullish sentiment push the star crypto toward its $100k mark this month? Or will it enter a consolidated price action for a brief period? Scroll down as you are minutes away from finding it out!

BTC Price Achieves A New High During The Early Asian Market!

The Bitcoin price has maintained its bullish price action by rising 6.79% in 7 days and 34.63% in the last 30 days. Moreover, with MicroStrategy resuming its Bitcoin buying spree, institutional buying is turning more optimistic on Bitcoin strategy each day.

TradingView: BTC/USDT

The Simple Moving Average (SMA) has constantly supported the Bitcoin price chart this month. This suggests a strong bullish sentiment for the crypto token in the market.

The RSI indicator continues hovering above the overbought range in the daily time frame. However, its average trendline records a high possibility of a bearish convergence, indicating a mixed price sentiment.

Will BTC Price Reach $100k This Week?

If the bullish sentiment sustains, Bitcoin will surpass its $94,000 mark and test its $95k level. Maintaining the price above that level could set the stage for it to head toward its target price of $100k in the upcoming time.

On the contrary, if a bearish reversal occurs, the BTC price will retest its support level of $90,000. Furthermore, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $81,000 this year.

Wondering about the long-term targets of BTC price? Read CoinPedia’s Bitcoin price prediction and also subscribe to us to stay updated on the latest crypto news!

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