Bitcoin Shows Renewed Strength, Eyes $98,000 Target
- Bitcoin has reclaimed key support levels after a sharp decline, signaling potential upward momentum.
- Crypto analyst Crypto Patel notes Bitcoin filled the Fair Value Gap (FVG) and tagged the Bearish Order Block as projected.
- The next major target is the $96,800–$98,000 FVG zone before any significant correction may occur.
- A sustained close above $107,550 would negate the bearish market structure and could start a new bullish phase.
- Bitcoin defended the $90,000 support zone with renewed buyer confidence amid improving macroeconomic sentiment.
Bitcoin’s recent price action suggests a potential path toward the $98,000 imbalance zone as it regains strength following a sharp decline. This recovery is supported by technical moves and improved macroeconomic conditions that have bolstered investor confidence.
The completion of key technical patterns and defense of critical support levels indicate that Bitcoin may be poised for further gains if current conditions persist. Source
