Bitcoin has seen strong bullish momentum after reclaiming the $94.3K support. The market structure remains intact with higher lows, and now BTC is approaching the $101.2K resistance — the final major hurdle before price discovery.
Key Highlights:
Confirmed Support at $94.3K: Strong daily closes and long wicks indicate demand absorption
Bullish Structure Maintained: Weekly higher lows signal ongoing strength in the trend
Major Resistance Ahead: $101.2K is the key level bulls must break to trigger new highs
Full Analysis:
BTC respected the $94,244–$94,300 demand zone with multiple daily candle closes above and aggressive wick rejections below. This marked clear buyer strength and absorption, leading to a sharp expansion through local resistance levels. The recent breakout is backed by a consistent higher low structure on the weekly chart, showing that bulls continue to control the trend.
As BTC trades just under $100K, the $101,200 region stands as the final high-timeframe resistance before price discovery. Expect some consolidation or range-bound movement between $94.3K and $101.2K before any decisive breakout.
Key Highlights:
Confirmed Support at $94.3K: Strong daily closes and long wicks indicate demand absorption
Bullish Structure Maintained: Weekly higher lows signal ongoing strength in the trend
Major Resistance Ahead: $101.2K is the key level bulls must break to trigger new highs
Full Analysis:
BTC respected the $94,244–$94,300 demand zone with multiple daily candle closes above and aggressive wick rejections below. This marked clear buyer strength and absorption, leading to a sharp expansion through local resistance levels. The recent breakout is backed by a consistent higher low structure on the weekly chart, showing that bulls continue to control the trend.
As BTC trades just under $100K, the $101,200 region stands as the final high-timeframe resistance before price discovery. Expect some consolidation or range-bound movement between $94.3K and $101.2K before any decisive breakout.
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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Unlock Blofin Bonuses
Trade with perks & support the community!
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Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.