- Bitcoin consolidates near $94,300 as triangle formation signals an imminent breakout.
- Long-term holders return as Bitcoin’s apparent demand turns positive, boosting market strength.
- Technical indicators favor upside movement with strong RSI and bullish MACD crossover for BTC.
Bitcoin (BTC) has entered a critical zone this month, where analysts expect a Cycle Peak to form. According to time cycle analysis, this peak generally occurs between the 0.25 and 0.5 range following each Bitcoin halving event. With Bitcoin maintaining strength near $94,300, many market observers suggest that now may be a good time for investors to accumulate more BTC.
Bitcoin Consolidates Near Key Resistance as Triangle Formation Develops
According to analysis prepared by More Crypto Online on X, Bitcoin is currently consolidating within a triangular formation. The analyst explained that this pattern could signal a pending breakout, as the market often pauses before making a decisive move.
Recent price action showed Bitcoin fluctuating near $94,300, maintaining a steady range despite lower weekend volumes. This stabilization, combined with the triangular chart pattern, suggests that the next major move could be imminent. Analysts are watching closely as the structure points toward the final stages before a breakout.
The Relative Strength Index (RSI) on Binance for the BTC/USDT pair stood at 68, indicating strong momentum without being critically overbought. Combined with a bullish Moving Average Convergence Divergence (MACD) crossover, technical indicators favor further upside movement if volume supports the breakout.
Bitcoin Demand Reawakens Amid Strengthening Market Activity
According to an observation by CryptoQuant, Bitcoin’s “apparent demand” has turned positive after months of subdued performance. This metric, which tracks shifts in one-year inactive supply, suggests long-term holders are reentering the market with renewed interest.
Increased trading activity has been noted on major exchanges, with buying pressure lifting Bitcoin above $90,000 for several consecutive days. Whale activity and retail participation have both intensified, further reinforcing the market’s strong support levels. Analysts believe this surge in demand points toward Bitcoin reaching a Cycle Peak soon within the predicted halving time cycle range.
