Bitcoin kicks off 2025 strong, gaining over 5% in the year's first few days. The big showdown lies ahead at the $99,900 level, a potential game-changer for its price direction. Crypto analyst Plan D mentions a "moon flag" pattern, hinting at even higher gains if Bitcoin breaks through this resistance.
Plan D predicts a surge to around $108,000 if the flag confirms, but warns of a bear flag pattern that could mean a drop to $78,000 otherwise. Bitcoin Dominance is declining, giving altcoins a profit edge, but the market's real bounce back heavily depends on Bitcoin surpassing $99,900.
Currently trading at $97,903, Bitcoin shows minor gains but sits in the red for the month. Traders reap some rewards, evidenced by the shift in long positions on Binance. Despite profit-taking, long positions still lead, reflecting belief in Bitcoin's upward path.
Adding to the mix, Trump's impending inauguration brings hope of pro-crypto policies, possibly driving the market’s optimistic sentiment up further. Enthusiasts expect his administration might boost the cryptocurrency space, aligning with his campaign's promises.
