Bitcoin finally exceeded the $ 96,000 mark, reporting a potential change in the market structure after weeks of consolidation and sales pressure. This escape gives the bulls the top as the momentum is built at all levels, with a renewed optimism that BTC could recover the milestone of $ 100,000 in the short term. The market tone has changed and the break above $ 96,000 could mark the start of a new increased phase.
Top Crypto Axel Adler's analyst shared a key metric on the chain suggesting that Bitcoin enters the first stages of a new rally. According to ADLER, the chain motion ratio is now approximately 0.8 (or 80%). Historically, this area has preceded strong ascending trends in previous cycles.
While global macroeconomic conditions and geopolitical tensions continue to launch uncertainty in the financial markets, Bitcoin chain strength alludes to an increasing appetite for investors. If the bulls can maintain this escape and push towards $ 100,000, this would confirm a wider change of market and potentially lead to a solid Q2 rally in the cryptography sector.
Bitcoin Eyes Bulshish continuation while the momentum is built
Bitcoin resumes his strength after months of sales pressure, the bulls now trying to recover control. Since the escape above the level of $ 90,000, the momentum has gradually moved, and Axel Adler suggests The market enters what it calls the “Start” rally area. This is based on the chain report indicator, which is currently around 0.8 – or 80% – a historically significant level which often precedes major market movements.
If this ratio exceeds 1.0 and holds, it would probably confirm a strong upward impulse. In this optimistic scenario, key measures such as NUPL (profit / net loss unable) and MVRV (market value of the value achieved) would signal an extension phase, potentially pushing bitcoin to review its cycle model observed in 2017 and 2021. A rally around $ 150,000 at $ 175,000 would not be out of the question in such a case.
However, if the ratio remains between 0.8 and 1.0, the market can enter a consolidation phase. In this basic scenario, Bitcoin would probably negotiate between $ 90,000 and $ 110,000, participants occupying posts but not adding a significant exhibition. This behavior linked to the beach suggests that prudence remains, despite a longer -term positive perspective.
A more prudent perspective emerges if the report drops to 0.75 or less. This would probably trigger the benefits of short -term holders, exerting pressure on the market and possibly cause Bitcoin to the range of $ 70,000 to $ 85,000. Since a correction has already taken place, Adler thinks that the first two scenarios are currently more likely. However, macroeconomic risks – such as recession fears or geopolitical shocks – could tip the scale.
Overall, Bitcoin seems to warm up for a decisive decision, and the next few weeks can confirm if it is the start of an escape or a continuation of a broader consolidation.
Bitcoin price analysis: the bulls challenge keys to $ 96,000
Bitcoin is negotiated at $ 96,130, continuing its short-term trend after a net rally compared to $ 81,000 in mid-April. The daily graphic shows a strong momentum, BTC now consolidating itself just below the resistance zone of $ 96,000 – a level which previously acted as support in February and March before the break. A successful escape above this area would open the door to a psychological level test of $ 100,000, followed by the next major resistance at $ 103,600.
In particular, the 200 -day SMA ($ 89,843) and the 200 -day EMA ($ 85,926) were properly recovered during this recent movement, signaling a clear change in the structure of trends. The volume remained stable during the rally, although a significant increase in the purchase pressure would help confirm the continuation.
The current structure looks like a bullish continuation model, but BTC must break and close above the bar of $ 96,000 with conviction to confirm the upward momentum. Not doing it can lead to a decline to retest the support areas around $ 92,000 and $ 89,000.
Overall, the trend remains optimistic in the short term, but caution is justified because the range of $ 96,000 to $ 100,000 represents a critical supply area where many sellers can intervene. A decisive decision in the coming days could shape Bitcoin management for May.
Dall-e star image, tradingview graphic
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