Bitcoin Breaks $100K: Will the Rally BTC Continue?

- Bitcoin Breaks $100K, A Key Milestone for the Market - Bitcoin, Will the Uptrend Continue? Warnings About Risk Zones [Unblock Media] The situation where Bitcoin has broken through the $100,000 mark is a significant event that marks a new era. This milestone is a historic achievement for Bitcoin, but it also ignites extensive debate about its future direction. Breaking $100,000 not only signifies reaching a high price point but has also garnered more attention from traditional financial institutions and increased trading volume from institutional investors. This indicates that Bitcoin is becoming more closely associated with the formal financial system. Many analysts predict that Bitcoin's upward trend will continue. However, a crypto analyst from TradingView has warned that this price level is a "danger zone." According to him, reaching $100,000 could likely lead to a substantial correction, which may include a drop to $72,000. This potential for correction arises partly because Bitcoin's RSI (Relative Strength Index) shows it is in an overbought state, signaling a significant likelihood of a downturn. Moreover, Bitcoin breaking the $100,000 mark after four failed attempts is an important psychological milestone. Although the price briefly retreated below $100,000, investors view this pullback as only a temporary barrier, believing Bitcoin's upward journey is far from over. Such short-term pullbacks are also linked to increased deposit and withdrawal volumes on major exchanges, which can be interpreted as movements by short-term investors to realize profits. The same TradingView analyst offers a more cautious and bearish outlook. He suggests that the $100,000 price level has acted as a "magnet" for price action over the past few weeks. As a result, he predicts a re-test at $94,000, followed by a broader price correction. Specifically, if the price falls below $94,000, it could lead to a re-test of $88,000. Should the $88,000 support level give way, the ideal target range could be close to $72,200. The market remains steeped in strong optimism. The "Fear & Greed Index" has reached 81, indicating a state of extreme greed. The Fear & Greed Index reflects market sentiment, measured on a scale from 0 to 100. An 81 is indicative of extreme greed. Some analysts still see room for Bitcoin to rise, with some projecting a peak of up to $140,000. At the time of writing, Bitcoin is trading at $98,350. Although there was a re-test at $94,000 after breaking through $100,000, Bitcoin rebounded from $94,000. Yet, the leading cryptocurrency is not entirely out of danger.