Bitcoin makes history, as a six-figure BTC price is finally here. Yet, investors might wonder how far the king of cryptocurrencies can actually go.<\/p>\n
By Edris Derakhshi (TradingRage)<\/p>\n
The daily chart shows that Bitcoin has finally broken through the 100K milestone today and is pushing toward the $105K level. With the market structure being so bullish, even a run toward the $120K area is possible in the short term.<\/p>\n
Meanwhile, the RSI has once again entered the overbought region, and the 200-day moving average is also far behind the price, currently trending near the $70K mark. Therefore, there\u2019s also a logical probability for a correction soon, which could present a buying opportunity.<\/p>\n
<\/a>Source: TradingView<\/p>\n The 4-hour chart clearly shows the BTC price action over the last month. The market slowed down after breaking above the $90K resistance level, gradually increasing through higher highs and lows.<\/p>\n However, today\u2019s breakout above $100K might lead to an aggressive continuation higher.<\/p>\n Meanwhile, with the RSI also entering the overbought zone in this timeframe, there is more evidence that a pullback might happen soon, which could see the price drop toward the bullish trendline and the $96K level before taking off again.<\/p>\n <\/a>Source: TradingView<\/p>\n By Edris Derakhshi (TradingRage)<\/p>\n As the futures market is arguably the most significant determining factor in Bitcoin\u2019s short-term price movements, analyzing its overall sentiment would likely help investors form more accurate predictions.<\/p>\n This chart presents the funding rates, which measure whether buyers or sellers are executing their leveraged positions more aggressively.<\/p>\n While the metric is currently positive, indicating bullish momentum, this can also lead to a potential reversal. High funding rates are usually followed by a sudden drop as a result of long liquidation cascades.<\/p>\n With Bitcoin\u2019s aggregate funding rates showing the highest level over the past year, a correction seems likely soon. This could also lead to a period of consolidation as the futures market cools down.<\/p>\n <\/a>Source: CryptoQuant<\/p>\n The post Bitcoin Price Analysis: History is Made at $100K, Here\u2019s the Next Target<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin makes history, as a six-figure BTC price is finally here. Yet, investors might wonder how far the king of cryptocurrencies can actually go. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart The daily chart shows that Bitcoin has finally broken through the 100K milestone today and is pushing toward the $105K level. With […]<\/p>\n","protected":false},"author":0,"featured_media":26014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26013"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26014"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The 4-Hour Chart<\/h3>\n
Sentiment Analysis<\/h2>\n
Funding Rates<\/h3>\n
![<\/a>Source: TradingView<\/p>\nThe 4-Hour Chart<\/h3>\nThe 4-hour chart clearly shows the BTC price action over the last month. The market slowed down after breaking above the $90K resistance level, gradually increasing through higher highs and lows.<\/p>\nHowever, today\u2019s breakout above $100K might lead to an aggressive continuation higher.<\/p>\nMeanwhile, with the RSI also entering the overbought zone in this timeframe, there is more evidence that a pullback might happen soon, which could see the price drop toward the bullish trendline and the $96K level before taking off again.<\/p>\n<\/a>Source: TradingView<\/p>\nSentiment Analysis<\/h2>\nBy Edris Derakhshi (TradingRage)<\/p>\nFunding Rates<\/h3>\nAs the futures market is arguably the most significant determining factor in Bitcoin\u2019s short-term price movements, analyzing its overall sentiment would likely help investors form more accurate predictions.<\/p>\nThis chart presents the funding rates, which measure whether buyers or sellers are executing their leveraged positions more aggressively.<\/p>\nWhile the metric is currently positive, indicating bullish momentum, this can also lead to a potential reversal. High funding rates are usually followed by a sudden drop as a result of long liquidation cascades.<\/p>\nWith Bitcoin\u2019s aggregate funding rates showing the highest level over the past year, a correction seems likely soon. This could also lead to a period of consolidation as the futures market cools down.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: History is Made at $100K, Here\u2019s the Next Target<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin makes history, as a six-figure BTC price is finally here. Yet, investors might wonder how far the king of cryptocurrencies can actually go. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart The daily chart shows that Bitcoin has finally broken through the 100K milestone today and is pushing toward the $105K level. With […]<\/p>\n","protected":false},"author":0,"featured_media":26014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26013"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26014"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTCUSDT-Daily-Dec-5-2024-scaled.jpg\"){kind=link}
![<\/a>Source: TradingView<\/p>\nSentiment Analysis<\/h2>\nBy Edris Derakhshi (TradingRage)<\/p>\nFunding Rates<\/h3>\nAs the futures market is arguably the most significant determining factor in Bitcoin\u2019s short-term price movements, analyzing its overall sentiment would likely help investors form more accurate predictions.<\/p>\nThis chart presents the funding rates, which measure whether buyers or sellers are executing their leveraged positions more aggressively.<\/p>\nWhile the metric is currently positive, indicating bullish momentum, this can also lead to a potential reversal. High funding rates are usually followed by a sudden drop as a result of long liquidation cascades.<\/p>\nWith Bitcoin\u2019s aggregate funding rates showing the highest level over the past year, a correction seems likely soon. This could also lead to a period of consolidation as the futures market cools down.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: History is Made at $100K, Here\u2019s the Next Target<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin makes history, as a six-figure BTC price is finally here. Yet, investors might wonder how far the king of cryptocurrencies can actually go. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart The daily chart shows that Bitcoin has finally broken through the 100K milestone today and is pushing toward the $105K level. With […]<\/p>\n","protected":false},"author":0,"featured_media":26014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26013"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26014"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTCUSDT-4H-Dec-5-2024-scaled.jpg\"){kind=link}
![<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: History is Made at $100K, Here\u2019s the Next Target<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin makes history, as a six-figure BTC price is finally here. Yet, investors might wonder how far the king of cryptocurrencies can actually go. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart The daily chart shows that Bitcoin has finally broken through the 100K milestone today and is pushing toward the $105K level. With […]<\/p>\n","protected":false},"author":0,"featured_media":26014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26013"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26014"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Bitcoin-Funding-Rates-All-Exchanges-scaled.jpg\"){kind=link}