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Bitcoin Price Trend Above $100,000: The Good News And The Bad News

  • Bitcoin is currently trading above $100,000 at around $103,700 despite recent heavy selloffs signaling exhaustion in the past 48 hours.
  • Long-term indicators suggest a bullish continuation for Bitcoin, with the Bitcoin Risk Signal trending downwards, indicating a relatively low-risk environment for long-term investors.
  • Popular crypto analyst Willy Woo highlights that while the long-term setup favors bulls, short-term models like Speculation and SOPR metrics are showing caution with weakening rally strength.
  • The possibility of Bitcoin breaking above $114,000 hinges on strong buying pressure in the coming week; failure to do so could lead to further consolidation.

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