Bitcoin Price Prediction for Today, December 5 – InsideBitcoins

The Bitcoin price prediction shows that BTC reached a milestone high of $104,000, signaling long-term bullish potential.

Bitcoin Prediction Statistics Data:

• Bitcoin price now – $102,486
• Bitcoin market cap – $1.99 trillion
• Bitcoin circulating supply – 19.79 million
• Bitcoin total supply – 19.79 million
• Bitcoin Coinmarketcap ranking – #1

Getting into crypto early can lead to extraordinary gains, and Bitcoin (BTC) is the ultimate example. On December 5, 2024, BTC hit an all-time high of $103,900.47, showcasing its incredible growth over the years. Remarkably, back in July 2010, BTC was valued at just $0.04865, representing an astonishing +206,459,882.17% increase over 14 years. This means a mere $10 investment at its lowest point would now be worth over $20 million. BTC’s journey highlights the transformative power of early entry into crypto projects, proving that identifying potential at the right time can be life-changing.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $115,000, $117,000, $119,000

Support Levels: $88,000, $86,000, $84,000

Bitcoin’s recent surge to $103,629.86 represents a major breakout above the critical $98,000 resistance, reaching an all-time high of $104,000. The BTC/USD pair shows strong bullish momentum, with the price currently at $102,486.82, well above the 9-day and 21-day moving averages at $97,207.91 and $95,155.35, respectively. These moving averages are diverging upward, indicating sustained buying pressure and reinforcing the bullish trend on the daily chart.

Bitcoin Price Prediction: Bitcoin (BTC) Prepares for More Upsides

Looking at the daily chart, the Bitcoin price is trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. However, one could say that the long-term outlook favors the bulls, giving the daily close produced a bullish candle with eyes now set on the daily resistances at $115,000, $117,000, and $119,000 respectively.

In other words, any bearish movement from the current level could lead to critical supports below the 9-day and 21-day moving averages. Meanwhile, BTC could drop and touch the low of $97,000 support, once this comes to focus, the king coin can hit the support levels at $88,000, $86,000, and $84,000. In the broader context, Bitcoin’s long-term outlook remains positive, with pathways toward $110,000 and $120,000 intact. However, the immediate market dynamics indicate the likelihood of a short-term correction.

BTC/USD Medium-term Trend: Bullish (4H Chart)

On the 4-hour chart, Bitcoin (BTC) is trading at $102,614.69, positioned above the 9-day and 21-day moving averages. The recent price action marks a significant move, as BTC surged above the upper boundary of the channel with a strong bullish cross. This upward momentum is further reinforced by the 9-day MA maintaining its position above the 21-day MA, signaling continued bullish sentiment.

However, a potential downward move could occur if the bulls fail to sustain the upward push, potentially driving the price below the 9-day moving average toward support at $98,000 or lower. On the upside, if the bulls encounter resistance near $105,000 and manage to break through, BTC/USD could extend its rally above the channel boundary, targeting higher resistance levels at $108,000 and beyond.

@AbsGMCrypto shared an exciting analysis with followers on X (formerly Twitter), highlighting how $BTC has reached a historic milestone, surpassing $100,000 for the first time in human history. This moment marks a pivotal achievement for Bitcoin, cementing its status as a revolutionary financial asset in the global market.

BREAKING: $BTC PASSES $100,000 FOR THE FIRST TIME IN HUMAN HISTORY! pic.twitter.com/H3cVN9InRA

— Good Morning Crypto (@AbsGMCrypto) December 5, 2024

Bitcoin Alternatives

Bitcoin is currently trading within an ascending channel, with support at $97,952 and resistance around $115,000. A breakout above $110,000 could signal further gains, while a failure to sustain momentum might result in a pullback toward $98,000. Moderate trading volume indicates healthy market participation, bolstering the uptrend. Meanwhile, Pepe Unchained, a rapidly emerging crypto project, has garnered attention for its high-growth potential, with anticipated returns of 10x to 100x. Having raised over $73 million in its presale, it is poised for major exchange listings on platforms like Binance, Coinbase, and Robinhood.

PEPE UNCHAINED PRESALE IS COMING TO AN END

Pepe Unchained is rapidly solidifying its place as a game-changing project in the blockchain ecosystem. Backed by comprehensive token audits from trusted sources like Coinsult and Solidproof, the project’s credibility is unmatched, giving investors confidence in its potential. As the launch date approaches, the opportunity to be an early investor in a project with this level of innovation and community support is rare. Whether you’re a seasoned investor or new to crypto, this is your chance to get in before the massive momentum propels it further. Don’t miss out — join now and secure your stake in what could be the next big thing.

Visit Pepe Unchained

Related News

Most Searched Crypto Launch – Pepe Unchained

• Exchange Listings December 10
• ICO Sold Out Early
• Featured in Cointelegraph
• Layer 2 Meme Coin Ecosystem
• SolidProof & Coinsult Audited