The post Why Bitcoin’s Latest Pullback Hasn’t Shaken the Bullish $100K Outlook appeared first on Coinpedia Fintech News
Bitcoin steadied this week after a brief pullback, with analysts saying the broader price structure still points to higher levels if key support zones continue to hold.
The world’s largest cryptocurrency has been moving higher since its late-November lows, and recent price action suggests buyers remain active during dips.
Short-Term Pullback Seen as Normal Correction
After rising strongly from its November 21 swing low, Bitcoin entered a short-term consolidation phase, followed by a modest pullback. The price briefly dipped into an important support band before stabilizing, suggesting buyers stepped in quickly.
“This was not an aggressive sell-off,” one analyst said, adding that the move looked more like a routine correction within an ongoing uptrend.
Support Zone Holds Between $90,850 and $92,900
Bitcoin’s pullback found support between $90,850 and $92,900, an area which has been important in the past week.
Prices briefly touched the lower end of this range before rebounding, reinforcing the view that bulls are still defending the trend. Analysts said holding above this zone is critical for maintaining the short-term bullish outlook.
So far, price action within this range has followed expectations, with no signs of panic selling.
Resistance at $94,780 Could Signal Next Move Higher
On the upside, experts are watching $94,780, the week’s recent high. A clear break above this level could confirm the next upward leg in Bitcoin’s rally.
If that happens, analysts see potential upside targets near $97,000, which marks a retracement level, and $98,400, a technical extension zone.
Downside Risk Remains if Support Breaks
Despite the positive outlook, analysts warned that a decisive move below $90,850 would weaken the bullish case.
A breakdown below that level could shift focus toward deeper consolidation or even a retest of December lows. Such a move would suggest the current recovery phase has stalled.
Source: https://coinpedia.org/news/why-bitcoins-latest-pullback-hasnt-shaken-the-bullish-100k-outlook/
