Crypto Trade PSH analyst revealed major Bitcoin support levels to watch out for as BTC bulls push for rally to psychological level of $100,000. The analyst also mentioned what price levels Bitcoin could reach in the low term once it crosses $100,000.

Bitcoin Support Levels to Watch Out for as Bulls Press $100,000

In TradeView entryTrade PSH said the local high is $99,450 as bulls repeatedly try to push the price above $100,000. The cryptocurrency analyst also mentioned that the next key support zone is between $95,000 and $96,600. This is in line with a recent report by Bitcoinist that highlighted Level $96,000 as a key support zone.

While Bitcoin price moves above this support zone, Trade PSH stated that the main scenario is for the flagship cryptocurrency to continue to rise. If Bitcoin continues its uptrend and eventually breaks above the psychological level $100,000 levelThe cryptocurrency analyst predicts an intermediate growth target of $102,000 to $102,757.

Based on the current price action, the analyst suggested that Bitcoin could rise to $108,366. That would mean something fresh highest level ever (ATH) for the flagship cryptocurrency as its current ATH is $108,268. Meanwhile, Trade PSH mentioned that a drop below $94,300 would invalidate this trade setup.

The attached analyst chart showed that Bitcoin’s price could exceed $100,000 and achieve these short-term goals before the end of the year. While this remains to be seen, it is worth mentioning that January 2025 provides a bullish outlook for the flagship cryptocurrency.

Pro-crypto Donald Trump is scheduled to take office on January 20, which could lead to the creation of a Strategic Bitcoin Reserve. Historically, Bitcoin also saw a price rebound in January 2021 during the last bull run. Therefore, history may repeat itself.

BTC is heading up

In the post: X, cryptocurrency analyst Cryptocurrency titan he also presented a bullish outlook for Bitcoin’s price, stating that the flagship cryptocurrency is heading higher. The attached chart showed that Bitcoin could rise as high as $158,000 by May 2025. The chart also showed a price target above $220,000, suggesting the flagship cryptocurrency could rise even higher.

Titan of Crypto referred to stubborn pennantwhich he suggested was still in play for Bitcoin’s price. This massive bull pennant is forming on a monthly time horizon, and if successful, the crypto analyst is confident that Bitcoin will enjoy a parabolic upside to this price target.

At the time of writing, Bitcoin is trading at around $98,100, down over the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com