Bitcoin Signals Potential Bull Run

Bitcoin has successfully defended the critical support level at $93,495.0, maintaining market stability and averting significant price declines. Following this robust defence, the market experienced a notable push above this key zone, forming higher highs within an expanding channel. This price action reflects the bulls’ persistent attempts to drive an uptrend, even amid earlier signs of exhaustion.

 

The recent surge has propelled Bitcoin above the $100,000.0 mark, a psychological and technical milestone, confirming renewed bullish momentum. This breakout also coincided with a decisive move above the 21-period Moving Average, further reinforcing the potential for a sustained upward trend. With the $100,000.0 resistance now breached, the focus shifts to higher supply zones, hinting at the possibility of a longer-term bull run.

BTC Key Levels

• Demand Levels: $93,483.0, $73,754.0, $60,268.0
• Supply Levels: $108,364.0, $120,000.0, $130,000.0

What Are the Indicators Saying?

• MACD: The bearish histogram bars have fully dissipated, and the MACD line has crossed above the Signal line, signaling bullish momentum is gaining strength.
• Moving Averages: Bitcoin now trades above both the 9-period and 21-period Moving Averages, indicating a solid uptrend and confirming increased buyer confidence.

The breakout above $100,000.0 and the alignment of technical indicators suggest that Bitcoin is poised for further gains. Traders should closely monitor the next resistance at $108,364.0, as surpassing this level could open the door to new highs and reinforce the market’s bullish trajectory.

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