Bitcoin is now trading above a $ 93,000 level, showing a strong momentum as the bulls continue to push prices higher. After weeks of uncertainty and heavy volatility, the trend appears to be moving toward recovery. Today's main target is the reclaiming of a critical $ 100,000 mark, which will confirm a sustainable territory rally and set the stage for the next major bullish stage.
However, the risks remain elevated. The tensions between the US and China continue, and the continuous trade conflict continues to create an unstable backdrop for the global market. Investors have navigted a fragile environment in which any negative development can resort to sharp reactions throughout the risk of danger, including Bitcoin.
Crypto's leading analyst Daaan shared a technical review featuring that the BTC is currently experiencing a strong bounce and continuation from the 0.382 Fibonacci Retracement Level. Historically, this Fibonacci zone acts as a classic support area during healthy uprising, providing a powerful foundation for price continuity if successfully defended.
Faced the critical stage of bitcoin while bulls are resistant for higher ground
Bitcoin is now entering an important stage as price action in the coming weeks can define short-term and even medium-term trends. After recovering the level of $ 93,000, the Bulls again gained short -term control. However, investors remain cautious, knowing that any major negative catalyst can quickly reverse momentum throughout the risk ownership, including Bitcoin.
Analysts are divided into the next major move. Some believe that Bitcoin can rally above all times high (ATH) in the coming weeks, driven by growing institution's growing flows and a transfer to the appetite. Others are cautious that the macroeconomic backdrop remains too fragile, warning that we have not yet seen the full incidence of downside risks.
Road's optimistic perspective features that the current structure of the Bitcoin trend is older than the previous cycles. He noted that while the trend became steadier and slower, it was also more reliable, offering less intense swings and better long-term positioning for investors.
Daan pointed out a recent strong bounce and continuation from the 0.382 Fibonacci Retracement Level as a confirmation of this period. Historically, this key Fibonacci zone is handling an uptrend signal that is strongly underlying demand and market stability.
The coming days will be critical for Bitcoin to maintain momentum and push above $ 95,000- $ 96,000 resistance range to proceed to unspecified territory.
Technical Details: The key indicators are running around $ 89K
Bitcoin traded at $ 94,700 after a short push above the $ 95,800 mark earlier today. The bulls continue to show strength, but the real test remains a psychological $ 100,000 level. Destroying and maintaining over $ 100k will confirm a major rally to new all-time highs (ATH) and likely spark another wave of bullish momentum throughout the market.
However, many analysts warn that a healthy secret from current levels is still possible before Bitcoin can make a serious push of six numbers. After a strong multi-week rally, some revenue and cooling will be natural, helping to reset funding and emotional rates before the next main leg is higher.
The main level to watch on the downside is $ 89,000. The 200-day transfer of average (MA), an important racing indicator, which is currently around that zone. As long as Bitcoin holds above the 200-day MA, the wider uptrend remains intact, and any pullbacks are likely to be viewed as the purchase of investors' chances.
Featured image from Dall-E, chart from tradingview
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