Despite recent price fluctuations in the past few days, there is still robust optimism and confidence in Bitcoin‘s potential for a significant rally in the short term. Multiple seasoned crypto analysts have cited the psychological $100,000 as the next key level to watch once BTC regains its upside momentum.

Bullish Trajectory Toward $100,000 Hinges On Key Trends

Bitcoin may be demonstrating bearish performance, triggering uncertainty among traders and investors within the crypto community about its much-anticipated rally to the $100,000 milestone. However, Negentropic, a market expert and trader, remains optimistic about BTC’s path to the pivotal level, implying that the rally is still intact.

Even though Bitcoin’s $100,000 journey is still alive, the market expert claims that the digital asset needs to consolidate and create a compression zone in order to break past the milestone, a key level capable of altering the performance of the entire crypto market, as suggested by a daily channel.

With BTC entering into a phase of consolidation, this development would enable the asset to establish a strong foundation, lowering volatility and drawing in new liquidity that will bolster notable upward movements. The extended accumulation period and less selling pressure will ultimately provide BTC with the impetus to soar to the $100,000 mark.

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Author: Godspower Owie