Bitcoin on the verge of a powerful climb

7 gru

On the Bitcoin/USD (BTC/USD) chart, the price is moving in an ascending channel drawn by the Andrews Fork. The move is currently under the influence of the key support at $98,897.

Possible scenarios:
If the price is able to maintain its position above this support level of $98,897, there is a possibility of a further rise to the level of $105,854 (next resistance). This price increase will be possible if the buying pressure continues and the price can break through this support.

Conclusion:
Currently, Bitcoin is completing an uptrend inside the channel and as long as the price is above the $98,897 support, the next target will be $105,854.