"After remaining relatively sideways through the Christmas and New Year's weeks, the bitcoin price made a small move higher over this past weekend. Bitcoin price closed the week at $91,489, just above the short-term resistance level at $91,400. If bulls can sustain above this level, they should take another run at the $94,000 resistance level this week, which has kept a lid on the price since mid-November. $98,000 is within reach this week as well."
"Above $94,000, we have $98,000, where resistance really starts to pick up, and stretches from there all the way up to $103,500. This area is poised well to reject the price if it can climb above $94,000. $109,000 provides a likely final ceiling for the price that will be extremely tough to conquer. If the price gets above $109,000, we can start talking about potentially seeing new highs."
Bitcoin closed the week at $91,489, just above short-term resistance at $91,400. Bulls will try to sustain above $91,400 to challenge $94,000, a resistance that has capped price since mid-November. If $94,000 is broken, $98,000 and the $98,000–$103,500 area represent stronger resistance, with $109,000 as a likely major ceiling. On the downside, immediate support sits at $87,000, followed by $84,000 and a deeper $72,000–$68,000 zone. Bears have eased recently, giving bulls upward momentum this week; failure to hold $91,400 would shift defense to $87,000. New highs would become possible only if price exceeds $109,000.
Read at Bitcoin Magazine
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