- The Bitcoin price is nearing $2 trillion, indicating the new capital inflow.
- Bitcoin is 1,900 points away from reaching the $100K mark, and the Bitcoin price prediction favors a bullish outlook.
Bitcoin price prediction suggests another rally after a small pullback. The Bitcoin (BTC) price has been in a strong bullish trend and has witnessed single-directional momentum. Since September, it has surged by 66%. Amid this bullish rally, the BTC price was nearing $100K territory.
Bitcoin has experienced a continuous push for the last two months. That has led to a massive breakout from the major resistance level, which resulted in a giant bullish rally. However, the bullish momentum has paused for the short term and triggered a pullback.
Bitcoin Price Prediction and Technical Analysis Over Daily Timeframe
When writing, Bitcoin was wandering near the $98,000 hurdle. It has remained almost neutral over the past 24 hours. Bitcoin’s market value has jumped to $1.94 trillion and the 24-hour trading volume was $54.85 billion.
Being the leading crypto asset in the cryptocurrency market, BTC has left a positive impact on the altcoins and the crypto market has buzzed nowadays.
As per the technical chart, the BTC price momentum has halted near the $99K mark and lost around 1000 points. If the price fails to hold the $98K level, it could generate a bearish signal.
Here, the $90K territory could play a crucial role as a buying zone. If the price of bitcoin manages to defend this level, buyers could survive much longer.

Suppose the price fails to defend the $90K mark, bearish momentum might take place. Losing this level could lead to profit booking, and selling pressure might occur.
Alternatively, the BTC price is near an all-time high and has triggered a small pullback in the short time frame. If buyers manage to lift the price over the last swing high, buying momentum can be seen. Buyers may eye for a big milestone of hitting the $100K hurdle.
According to technical indicators, the RSI was staying over the RSI-based moving average. The MACD and the Signal line were wandering over the Zero line and the histograms have turned green.
Have the BTC Bears Lost Momentum?
Immortal (@inmortalcrypto) is a reputed crypto analyst who has shared his analysis about Bitcoin price prediction on X. He believes the BTC bears have been eliminated from the market, and the bulls’ era has started. The chart structure has displayed a short-term pullback.
During this pullback, the price has managed to defend the $95K level and displayed a V-shaped recovery. According to the technical chart, Bitcoin might remain bullish for the next few weeks.
Bitcoin Price Analysis and Forecast Based on Chart and Trend
Bitcoin is currently experiencing a significant bullish trend, having surged by 66% since September and nearing the crucial $100K milestone. Although the price has faced a temporary pullback around the $98K level, it remains positioned for potential upward movement.
If Bitcoin holds the critical support around $90K, Bitcoin price prediction suggests there might be further bullish momentum. However, a failure to defend that level could trigger selling pressure, indicating a shift in market sentiment.
Overall, the BTC price outlook remains optimistic. Traders are also closely monitoring the market for potential opportunities to break through the $100K barrier.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.