Analyst who points out the weakness of profit-taking in Bitcoin reveals the direction of the price - Coin Bulletin

IT Tech Analyst emphasized that Bitcoin is heading towards the $100,000 target with strong upward momentum and increasing FOMO demand, but the pressure of profit-taking should not be ignored.

CryptoQuant analyst 'IT Tech' shared interesting data about Bitcoin's recent price movements and investor behavior. According to the analyst's assessments, both a strong upward momentum and profit-taking pressure are observed in Bitcoin's price.

An analyst noted that the profit-taking rates of short-term investors (STH) have not yet reached the levels seen at the previous $72,400 peak of Bitcoin. This indicates that the pressure for profit realization has not yet peaked and that the price still has more potential to rise.

The rising trend in the price of Bitcoin is supported by increasing STH supply. An analyst stated that if this strong momentum is maintained, Bitcoin could rally towards the psychological resistance level of $100,000.

The increasing interest of short-term investors in the market strengthens the FOMO (Fear of Missing Out) effect. An analyst said that this situation could serve as a short-term catalyst in Bitcoin price, helping to overcome the psychological resistance level.

"IT Tech," emphasizing that it is nearly impossible for investors to accurately predict market peaks or troughs, highlighted that gradually realizing profits is the safest strategy. The analyst warned investors, saying," It is important to stay safe and trade wisely in the market."