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Bitcoin bulls are Try to push higher From just under $ 97,000, in an attempt to confirm the latest outbreak over a multi -day consolidation range. After having recorded almost $ 95,000 for more than a week, Bitcoin broke out to $ 97,000 before he reversed and formed a real value.
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This has led to an increase in activity on the Bitcoin -Blockchain, and the following prospects is or the power Structure applies to a continuation Up to $ 100,000 or if the momentum could falter in a zone of resistance.
Bitcoin reaches a 6 -month peak in network activity
One of the most striking shifts in market dynamics came from the chain. According to Crypto analyst Ali Martinez, Bitcoin just included his highest number of active addresses in the past six months. As shared in a message on social media platform X, Martinez noted that 925,914 BTC addresses were active within one day, what a unusually high level of involvement On the Bitcoin blockchain.
The corresponding Glassnode -Grafiek reveals how steep this wave has been, built on a gradual climb that started in the last week of April. Interestingly, the peak in Bitcoin activity coincides with his recent recovery of the price range of $ 95,000.
Add to the Bullish Case, Crypto analyst Tehthomas shared a compelling Technical analysis that pointed to an outbreak Continued to $ 100,000. Interpretation of the BTCUSDT time frame of 4 hours shows an almost identical structure for those who are seen in mid-April.
At the time, Bitcoin was consolidated near $ 86,000, broke out, left a real value Gap (FVG), revived the gap and collected almost $ 10,000. A mirror image of this pattern is currently unfolding. The Bitcoin price was compressed among $ 95,000, broke through resistance and created a new FVG between $ 94,200 and $ 95,000.
Tehthomas noted that the key is not to chase the outbreak, but to wait for a clean retest of the new FVG. If buyers defend that area as they did earlier this month, the road to $ 100,000 is structurally intact. Although the structure is currently beneficial for the bulls, the situation may become Bitcoin falls back in the old reach below $ 94,000.
Chart from TradingView
Beerarish Golden Pocket Setup Highlights Risks in advance
Not all analysts are convinced That bitcoin will first reach $ 100,000 without a shakeout. A counter -view of The TradingView platform emphasizes a possible Bearish setup in the short term based on the BTCUSDT 15-minute graph.
According to the analyst, the current upward retracement seems corrective instead of impulsive, so that a traditional short setup is formed within a strong real value gap resistance zone. Technical analysis shows that Bitcoin has withdrawn into a region that connects to a bearish real value gap and the gold pocket zone defined by the 0.618 to 0.65 Fibonacci levels.
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As it looks now, the real value is between $ 97,000 and $ 97,450. If the price does not break through this supply area, it can reverse And catch bulls overwhelmed.
Chart from TradingView
At the time of writing, Bitcoin acted at $ 96,040.
Featured image of Unsplash, graph of TradingView