The impact of Donald Trump's election on Bitcoin's bullish trend

The election of Donald Trump as the US President has strengthened the bullish trend of Bitcoin. The cryptocurrency is moving in an ascending channel and holding the support of $100,057 is the main condition for the continuation of this upward movement. The next target for Bitcoin could be the level of $107,306 at the ceiling of the channel.

Bitcoin Technical Analysis
Bitcoin is in an ascending channel on the 4-hour chart and appears to have further growth potential given the current conditions.

Key Support: The $100,057 level plays a vital role in maintaining Bitcoin’s uptrend. A break of this level could lead to a pullback to lower areas, but holding it is a strong bullish signal.

Key Resistance: The $107,306 level, as Bitcoin’s main price target and the top of the ascending channel, will be the first major obstacle on the way to the price increase.

Ichimoku and Alligator Indicators: Technical analysis shows that Bitcoin is currently above the Ichimoku cloud and within the Alligator indicator's moving range, which is a sign of a sustained uptrend.