If Bitcoin (BTC) maintains this decisive support level, $ 100,000 is possible: analysis – Cryptomode
Bitcoin has officially confirmed the beginning of a new weekly session, according to veteran market analyst Bob Lucas. After a four -month correction phase, Bitcoin has now pushed to the fourth week, which could become a 15 -week model bull cycle.
With BTC currently about $ 94,500, the structure indicates the resumption of the larger bull for a period of four years, provided that the main levels are respected.
If Bitcoin maintains this level, all bets will be in operation
Lucas confirms that the decisive bitcoin line in the sand is now $ 74,000. As long as the BTC remains higher than this level, the upscale thesis remains intact. However, a break under it would indicate that the market has entered a new drop stage, which ends the current upward trend.
Currently, the early cycle behavior remains consistent with the historical bull market patterns, providing merchants a clear road map to follow the summer months.
What technologies enhance the upper trend?
The technical background supports this reset. Bitcoin has recovered cleanly for both EMA for 21 days and SMA for 200 days, filled with $ 89,000 and $ 89,360, respectively.
The momentum indicators tend to ascend, as the relative strength indicators climb to 67 and the random oscillator in the depths of the peak purchase area in 90. MacD readings also show an increasing rise, highlighting the strength behind this step.
The activity is also captured on the chain, and the sizes of the stain remain healthy across the main stock exchanges. It resumed the headlines of the large wallet, and the open interest in future contracts markets continued to expand.
BATC brand is 100 thousand dollars
Traders are now looking for a mark of $ 100,000, but resistance in the near -term at $ 98,000 may slow this step. Maintaining a weekly closure of more than $ 90,000 will maintain the current bullish structure in playing to May.
Bitcoin Fresh Weekly Cycle restores both feelings and artistic structure, but the risks are still high. As long as the bulls are defending the floor of $ 74,000, the broader momentum in the market is still intact, with $ 100,000 is still a visible goal on the horizon.
At the time of the press, BTC is trading about $ 94,000, an increase of 8.2 % last week.
Traders now enter a critical stage, where discipline is of the same amount of condemnation-the movement of short-term fluctuations without losing the long-term viewing of the building below the surface.
