⚈ The price consolidates about $ 95,000 with a potential escape to $ 100,000
⚈ The market remains optimistic with strong techniques and feelings, although RSI signals slightly overabundant conditions
The activity of the Bitcoin Network (BTC) has reached a six -month summit, a trend likely to support the continuous thrust of assets to a six -digit assessment.
More specifically, Bitcoin recorded 925,914 unique active addresses within May 24 to 3, according to the channel data Shared by cryptocurrency analysis platform Glassnode.
The data indicates that the price of the BTC has regularly climbed hollows in mid-April, closely following the increase in network participation.
In particular, growing activity reflects the increased engagement of investors and speculation that Bitcoin can prepare for a large price movement when it is consolidated around the level of $ 95,000.
Historically, the peaks of active addresses have often been early indicators of solid market movements, indicating an increase in user demand and a volume of transaction through the blockchain.
Bitcoin Key Price levels to be monitored
Bitcoin is currently consolidating in a narrow range just below a level of key resistance. According to the cryptocurrency analyst Ali Martinez, who shared ideas in May 3 job On X, the critical resistance to watch is $ 98,290. An escape above this level could open the way to a movement towards the milestone of $ 100,000 long awaited.
On the other hand, $ 96,160 serves as a crucial level of support. With the price oscillating between these two markers, Bitcoin is negotiated in a tight band which seems ready for a decisive break in both directions.
Regarding Bitcoin by recovering the place of $ 100,000, a Finbold report indicated that several models of artificial intelligence (IA) think that the milestone could be reached by the end of May.
This possibility is also supported by technical information from TradingsWho noted that Bitcoin erases the traces of the recent “prices correction” that shook the markets. If this erase is completed, the analyst said Bitcoin would be open to the complaint of the $ 106,000 target.
Bitcoin price analysis
At the time of the press, Bitcoin was negotiated at $ 95,470, down approximately 0.8% in the last 24 hours, earning almost 2% in last week.
The feeling of the market remains optimistic, Bitcoin recording a “greed” score of 65. Technically, the asset is negotiated above 50 days ($ 86,939) and 200 days ($ 86,139) on simple mobile averages (SMA), confirming an upward trend.
However, traders should be careful of a short -term potential decline. The relative resistance index of Bitcoin (RSI) amounts to 66.42, indicating slightly excessive conditions.
Star image via Shutterstock
