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Bitcoin surpasses $97,000

Technical Analysis
By Mostafa Mahmoud
Bitcoin surpasses $97,000
0 1

BTCUSD

بيتكوين 15-1-2025

Bitcoin is trading around the resistance zone of $97,200, and this area is likely to limit the upward momentum during today’s trading session.

Support

 91070 87000 –
Resistance 97200 97200

108340

Bitcoin’s price has surged past the $97,000 mark, representing a significant milestone in its ongoing upward trend. This rise reflects strong market momentum, driven by increased demand and investor optimism.

Technical indicators suggest that Bitcoin is currently trading above key support levels, with the Short-Term Holder Cost Basis at $91,070 serving as a critical benchmark. The recent movement has also seen a notable increase in trading volumes, indicating substantial market activity.

If Bitcoin sustains its position above the $97,000 level, it could pave the way for further gains, with resistance levels around $100,000 coming into focus. However, investors should exercise caution, as profit-taking or external factors could lead to short-term volatility.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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