- Bitcoin holds strong above $94K with bullish momentum building toward the psychological $100K level and potential all-time high retest.
- BTC confirms a bullish breakout with higher lows, rising volume, and a 50-day MA crossover above the 100-day, reinforcing trend strength.
- The market structure shows upward compression and solid support at $90,836, pointing to continued upside despite possible short-term volatility.
Bitcoin (BTC) trades at $94,192, holding levels after a solid breakout above the $90,836 key resistance. The move follows weeks of market compression in a well-bounded range between mid-March and mid-April. During this period, BTC fluctuated between $85,719 and $90,836, gaining traction. The most recent run took the price to $95,440 before short-term rejection. Prices remain high, reflecting bullish sentiment throughout the market.
Price Structure Builds Toward Psychological $100K Barrier
The previous swing high near $99,492 now serves as the next immediate resistance level. Besides, the critical psychological level of $100,000 hovers just above, attracting considerable attention. BTC’s price structure suggests a clean continuation pattern with higher lows and consistent upward pressure. Moreover, the former resistance around $90,836 has flipped into a support level. This area now acts as a firm demand zone.
Source: Daan Crypto Trades
Additionally, the 50-day moving average has crossed above the 100-day moving average. This crossover confirms short-term bullish strength. Meanwhile, the 200-day and 100-day moving averages continue to slope upward. Hence, the medium-term trend remains firmly intact. Price compression over the past few days between $91,000 and $99,500 further strengthens this setup.
Volume Surge Confirms Breakout Strength
volume spiked during the breakout, reflecting strong market participation. The price jump wasn’t isolated—it came with rising trading activity. Consequently, this reinforces the validity of the move and reduces the risk of a false breakout. Furthermore, BTC found solid support at $73,890 during earlier pullbacks, adding to long-term bullish confidence.
Besides, economic data and tech earnings this week may introduce short-term volatility. However, the chart’s clarity, clean support levels, and upward-sloping averages suggest further upside potential if the $90,836 level holds. Moreover, should BTC reclaim $99,492 and break above $100,000, a retest of the all-time high at $108,493 could follow.
