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Bitcoin
Bitcoin (BTC)
$116,271.00 -0.36009
Bitcoin price
Ethereum
Ethereum (ETH)
$4,598.67 1.88301
Ethereum price
BNB
BNB (BNB)
$987.24 2.94785
BNB price
Solana
Solana (SOL)
$245.31 3.76212
Solana price
XRP
XRP (XRP)
$3.08 1.36664
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000135 2.60867
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 3.04381
Pepe price
Bonk
Bonk (BONK)
$0.0000256 5.69405
Bonk price
dogwifhat
dogwifhat (WIF)
$0.967884 0.14353
dogwifhat price
Popcat
Popcat (POPCAT)
$0.289028 5.47509
Popcat price
Bitcoin
Bitcoin (BTC)
$116,271.00 -0.36009
Bitcoin price
Ethereum
Ethereum (ETH)
$4,598.67 1.88301
Ethereum price
BNB
BNB (BNB)
$987.24 2.94785
BNB price
Solana
Solana (SOL)
$245.31 3.76212
Solana price
XRP
XRP (XRP)
$3.08 1.36664
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000135 2.60867
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 3.04381
Pepe price
Bonk
Bonk (BONK)
$0.0000256 5.69405
Bonk price
dogwifhat
dogwifhat (WIF)
$0.967884 0.14353
dogwifhat price
Popcat
Popcat (POPCAT)
$0.289028 5.47509
Popcat price
Bitcoin
Bitcoin (BTC)
$116,271.00 -0.36009
Bitcoin price
Ethereum
Ethereum (ETH)
$4,598.67 1.88301
Ethereum price
BNB
BNB (BNB)
$987.24 2.94785
BNB price
Solana
Solana (SOL)
$245.31 3.76212
Solana price
XRP
XRP (XRP)
$3.08 1.36664
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000135 2.60867
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 3.04381
Pepe price
Bonk
Bonk (BONK)
$0.0000256 5.69405
Bonk price
dogwifhat
dogwifhat (WIF)
$0.967884 0.14353
dogwifhat price
Popcat
Popcat (POPCAT)
$0.289028 5.47509
Popcat price

Bitcoin price forecasted ‘highly bullish’ if this support level holds

Dorian Batycka
Edited by
News
Bitcoin price forecasted ‘highly bullish’ if this support level holds

Bitcoin is expected to retain its upward momentum if it successfully defends the key support level, Matrixport says.

After breaking out of a narrowing wedge pattern, Bitcoin (BTC) now faces a pivotal test at $89,260, a support level seen as crucial for its continued upward momentum. In an X post on Jan. 21, Singapore-based blockchain firm Matrixport said that Bitcoin’s price outlook depends on staying above this threshold.

In a chart shared by the firm, Bitcoin is seen breaking out of a narrowing wedge pattern. The cryptocurrency, with a market capitalization of more than 2 trillion, has been retesting the breakout level at $98,042, which analysts see as a critical area for its price momentum.

https://twitter.com/Matrixport_EN/status/1881599516882903378?s=20

“Bitcoin is now retesting the breakout level,” independent analyst Markus Thielen wrote in the analysis, adding that if BTC stays above the support, the short-term outlook will remain “highly bullish.” Since mid-November, Bitcoin has been moving within a wedge pattern. According to Matrixport, a mix of factors has shaped its price, including inflation concerns and optimism around potential strategic moves in the market.

While the report is optimistic, it adds a condition: Bitcoin must defend the support level in the coming days to maintain its bullish outlook. As of press time, Bitcoin is trading at $103,497, while the total crypto market cap sits at $3.56 trillion.