Analyst Banmuxia Sets Bitcoin Profit Targets at $98,000, $103,300 and $112,500

Chinese crypto analyst Banmuxia said on Dec. 12 that Bitcoin's daily chart shows a bullish crossover among the MA5, MA10 and MA30, creating a support zone around $90,500–$91,300, BlockBeats reports. For long positions opened near $89,000–$90,000, Banmuxia outlined take-profit levels at $98,000, $103,300 and $112,500, with adjustments based on market conditions. The analyst noted these profit-taking areas are no longer suitable for new long entries due to a low risk-reward profile.