Bitcoin is currently trading above $96,000, recovering from last week’s correction following the failed $100,000 peak. Technical analysts suggest this correction is necessary, potentially leading to a rally to $109,000. BTC is currently struggling to hold the $96,000 level, but bullish investors can hope for a break-through to $100,000.
The rising channel and the growth of the MACD indicate a short-term bullish momentum. However, if BTC bounces off the $100,000 resistance, the price could fall to around $87,000. Dormant bitcoin wallets are waking up, showing growing confidence in the market.
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