BTC must flip $93.3K to support for $100K breakout, analysis suggests

For Bitcoin to surpass the $100,000 mark, it must first convert the $93,300 level into a solid support line, according to an analysis by Cointelegraph. The media outlet noted that $100,000 is acting as a key psychological resistance, and repeated rejections at this level could trigger a sell-off similar to the one seen last February. To overcome this barrier, Bitcoin needs to secure $93,300 as definitive support and reclaim $98,000, the location of the five-day simple moving average on the BTC/USD chart. A breakout above this zone would target $108,000, where a major supply zone coincides with the 200-day moving average. Conversely, if BTC fails to break the $94,000 resistance, it could face increased downward pressure. A drop below $90,000 could lead to a potential pullback to $87,500 and subsequently to $84,000.