Bitcoin is now facing a critical trial as it combines -with the around $ 103,000 mark, holding the earneds made at last week's strong breakout. After the $ 104,300, the price remained stable on a narrow range, suggesting an accumulation period before the next major move. The bulls appear to be side by side, with emotion leaning toward a continuation of the climb. The main level to watch is the $ 109,000 all-time high, which can be challenged if the momentum builds in the coming days.
Cryptoquant views have revealed that the bull bear market cycle indicator-an on-chain measure that has continued to sign a bear market since February 24, 2024-has now begun flashing early signs of a potential return. This change can mark the transition to a new bullish phase. Although the current signal remains weak, the upward turn to the short-term average transition is particularly noticeable.
In macro macro conditions and altcoins that begin to catch fire, the integration of bitcoin at elevated levels can be a signal with a greater move towards new highs.
Continuing Bitcoin eyes while the main indicator flashes early bullish signal
Bitcoin prepares to test the territory that is not determined after months of heavy sales pressure, negative emotions, and continued uncertainty of MacRO. Following a strong rally that pushed the price of over $ 100,000, the BTC is now finding a resistance to the $ 104,000 level-a major supply zone that can act as a short-term ceiling. Bulls are strongly controlled, but the market remains careful as this level represents the final major obstruction before a potential breakout to $ 109,000 throughout the time.
Breaking above $ 104,000 is likely to spare significant momentum, pushing prices to discovering the price and releasing a new wave of investor optimism. However, this area can also invite increasing income extraction and fresh sales pressure. If bitcoin can maintain this rally depends on the wider dynamics in the market and investor belief in these highs.
According to the cryptoquantThere is a reason to believe that the water is rising. Since February 24, 2024, the bull bear bear market cycle indicator has continued to sign bearish conditions.
However, in recent days, this signal began to flip. Although the current bullish coefficient remains weak at 0.029, it marked the first positive reading in weeks. More importantly, the Bull-Bear 30DMA, a short-term signal, began to turn away. If it crosses above the longer 365dma, historical data suggests that Bitcoin can enter a parabolic rally phase similar to previous bull cycles.
This cluster of price action and on-chain momentum points to a critical juncture. If the structure holds and the indicators align, Bitcoin may be in the history of rewrite.
Combines price after explosive rally
Bitcoin currently combined below the $ 103,600 resistance level after a strong rally that pushed the price from the bottom $ 90,000 to over $ 103,000 in a few days. As shown in the 4 -hour chart, the BTC is printed by a tight bullish flag below a major supply zone, suggesting a continuation of the potential when held by momentum. The 200-period SMA ($ 89,946) and EMA ($ 92,357) are both trending upwards, which further confirms the strength of the underlying uprising and offers strong support in the case of a pullback.
The volume is slightly reduced in the phase of this integration, which is common to a bullish structure where consumers stop before trying a breakout. A sustainable close to the top of $ 103,600 can quickly send Bitcoin to the all-time high zone around $ 109,000. However, failure to break this resistance can lead to short -term income acquisition and a retest of $ 100,000 level as psychological support.
Generally, the price structure remains very constructive, and the recent clean rest above the previous range between $ 92k – $ 98k increases weight in bullish thesis. The bulls are in control today, but the next few sessions will determine whether this momentum leads to price detection or a short-term cool-down.
Featured image from Dall-E, chart from tradingview
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