If Bitcoin (BTC) retains its critical support level, it is again possible for $ 100,000: analysis – cryptomos

Bitcoin, Bob Loukas, a veteran market analyst, has officially confirmed the beginning of the new weekly cycle. After the four-month repair phase, Bitcoin has now reached the fourth week, which can become a typical 15-week bull cycle.

As the BTC currently trades about $ 94,500, the structure recommends continuing to continue a larger four-year bull if the basic level is respected.

If Bitcoin retains its level, all stakes are on

Loukas emphasizes that the critical line of Bitcoin in the sand is now $ 74,000. Until BTC is above this level, bullish work remains intact. However, the pause under it would signal that the market had reached a new bear phase, ending the current rise premature.

Currently, early cycle behavior is in line with the market patterns of historic bulls, providing a clear action plan for traders during the summer months.

What technical technical increases the bullish trend?

The technical background will further support this reset. Bitcoin has taken back his 21-day mother and 200-day SMA, sitting for $ 89,000 and $ 89,360 respectively.

The instantation of the momentum is bullish, RSI climbs to 67 and the stochastic oscillator is deep in the overloaded territory of 90 liters. MACD readings also show a growing bullish divergence, highlighting the strength behind that step.

The chain activity is also taken up and the volumes on the spot remain healthy by healthy shifts. Large wallet addresses have continued to accumulate and open interest in futures markets continues to extend.

BTC infamous $ 100,000

Traders are now watching the psychological $ 100,000, but in the near future, the resistance to $ 98,000 can slow down a step. Maintaining a weekly closure over $ 90,000 would keep the current bullish structure game in May.

The reset of Bitcoin's fresh weekly cycle is reset with both sentimental and technical structures, but the stakes are still high. Until Bulls protects the $ 74,000 floor, the market will remain intact, the $ 100,000 is still a targeted target on the horizon.

During the press, BTC trades about $ 94,000, which is 8.2%last week.

Traders now enter a critical phase where discipline is important as much as conviction-navigating short-term volatility without losing sight of the long-term rise under the surface of the building.