Bitcoin Price Forecast - Bitcoin Continues Oscillating Sideways

The bitcoin has continued to oscillate this Friday as it seems to continue to feel attraction for the level at $100,000 as the "fair price" of the zone.

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Technical Analysis of the Bitcoin Market

The bitcoin market has risen slightly at the start of Friday as it seems to simply continue to stumble around the $100,000 level. I honestly believe that the market remains basically stagnant in consolidation, and I'm not sure what will be able to get it out of there. At the moment, we are oscillating between the $90,000 level below and the $110,000 level above, so if this continues, one can assume that the $100,000 level we have tested during the session would be like the fair price within the region.

On the other hand, I am convinced that the corrections will continue to offer buying opportunities, but recognizing that we do not seem to be in a hurry to go anywhere. In this environment, I think it is best to accumulate more and more in small increments, thinking of it as a long-term investment, or maybe as a savings account.

If we lose the level at $88,000, I think we could test the 200-day moving average as support, while anything below that could open the door to a move back to the $74,000 level. Remember that bitcoin is a risky asset and it seems that demand for this type of asset would have to be significantly higher for us to move up strongly, while traders also watch whether the U.S. government will indeed push through the new cryptocurrency regulation, as the Trump administration is very supportive of them. At the moment, they have been quite restrained, but it is also true that only a couple of weeks have passed.