- Bitcoin breaks above $93.5K as bulls regain control, with Ichimoku breakout and steady volume signaling strong upward momentum.
- Despite overbought signals, market structure favors bulls, with key support at $91K and long-term sentiment staying firmly positive.
- Traders split on short-term moves, but low sell pressure and rising technicals suggest Bitcoin could soon challenge the $100K mark.
Bitcoin surged past the $93k mark on April 23, 2025, showcasing renewed bullish strength in the market. The current rally marks a sharp reversal from the prior quarter’s downward pressure. After consolidating between $84,000 and $89,000, the price exploded upwards, hitting a daily high of $93,909. Traders are now eyeing the $100,000 psychological resistance, with sentiment tilting heavily bullish.
Meanwhile, volume remains moderate, suggesting growing interest but with room for expansion. Notably, Bitcoin’s breakout above the Ichimoku cloud confirms a strong technical shift. Market participants are aligning with high-timeframe bullish setups.
Bulls Reclaim Control After Period of Uncertainty
This rally follows a volatile start to 2025. Between January and March, Bitcoin retraced from its 2024 peak near $100,000. That correction saw price levels dip close to $84,000. However, April brought a clear recovery. The Ichimoku cloud, long seen as resistance, now supports further price advances. Indicators confirm bullish sentiment. Bitcoin currently trades above all major moving averages.
Moreover, the recent breakout occurred on relatively steady volume. This indicates controlled accumulation, not hype-driven spikes. Additionally, the daily chart shows consistent green candles, with each dip being quickly bought up. The current stochastic RSI sits in overbought territory, hinting at possible short-term cooling. However, this often accompanies strong trending markets rather than immediate reversals.
Market Players Split on Short-Term Action
Trader sentiment remains mixed in the short term. Prominent trader Astronomer_Zero has entered a short position around $89,800. However, their strategy reflects hesitancy. They acknowledge the broader bullish trend and aim to exit the short at breakeven. On the flip side, DrProfitCrypto celebrates Bitcoin reaching its $90,000 target. He now expects a push toward $100,000.
Consequently, bulls dominate long-term outlooks while bears struggle to find footing. The risk-to-reward of shorting appears limited. Moreover, current technicals support higher highs. Besides, the lack of selling volume on recent dips reinforces confidence. Hence, as long as Bitcoin holds above the $91,000 support zone, upward continuation remains likely.
