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Bitcoin's price maintains its strength above $94,000, building bullish momentum towards the psychological level of $100,000 and a potential retest of the all-time high.
BTC confirms a bullish breakout with higher lows, increasing volume, and the 50-day moving average crossing above the 100-day, reinforcing the strength of the trend.
The market structure shows upward pressure and strong support at $90,836, indicating a continued rise despite potential short-term volatility.
Bitcoin is trading at 94,192 USD, maintaining its levels after a strong breakout above the key resistance level of 90,836 USD. This movement comes after weeks of market pressure within a limited range between mid-March and mid-April. During this period, the price of Bitcoin fluctuated between 85,719 USD and 90,836 USD, gaining momentum. The recent rise pushed it to 95,440 USD before facing short-term rejection. Prices remain high, reflecting a bullish trend in the market.
The price structure is heading towards a psychological barrier of 100,000 dollars.
The previous swing level, which reached $99,492, now represents the next immediate resistance level. Furthermore, the critical psychological level at $100,000 hovers just above it, attracting significant attention. The structure of Bitcoin's price indicates a clear continuation pattern with higher lows and ongoing upward pressure. Moreover, the previous resistance level at $90,836 has turned into a support level. This area now represents a strong demand zone. The 100-day moving average is at 0 days. This crossover confirms the strength of the short-term bullish trend. At the same time, the 200-day and 100-day moving averages continue to slope upward. Thus, the medium-term trend remains stable. Price pressure over the past few days between $91,000 and $99,500 reinforces this situation.
The increase in trading volume confirms the strength of the breakout.
The trading volume surged sharply during the breakout, reflecting strong market participation. The price increase was not isolated, but coincided with rising trading activity. Thus, this reinforces the validity of the move and reduces the risk of a false breakout. Furthermore, Bitcoin found strong support at $73,890 during previous pullbacks, which bolstered long-term bullish confidence.