Bitcoin is now dealing with a essential take a look at because it consolidates across the $103,000 mark, holding good points made throughout final week’s highly effective breakout. After tagging $104,300, the value has remained regular in a slender vary, suggesting a interval of accumulation earlier than the following main transfer. Bulls seem to have the sting, with sentiment leaning towards a continuation of the uptrend. The important thing degree to look at is the $109,000 all-time excessive, which might be challenged if momentum builds within the coming days.
Insights from CryptoQuant reveal that the Bull Bear Market Cycle indicator—an on-chain metric that has constantly signaled a bear market since February 24, 2024—is now starting to flash early indicators of a possible reversal. This shift may mark the transition into a brand new bullish section. Though the present sign stays weak, the upward flip within the short-term shifting common is especially notable.
With macro circumstances stabilizing and altcoins beginning to catch hearth, Bitcoin’s consolidation at these elevated ranges could also be a precursor to a a lot bigger transfer towards new highs.
Bitcoin Eyes Continuation As Key Indicator Flashes Early Bullish Sign
Bitcoin is getting ready to check uncharted territory after months of heavy promoting strain, unfavourable sentiment, and chronic macro uncertainty. Following a powerful rally that pushed the value above $100,000, BTC is now discovering resistance close to the $104,000 degree—a key provide zone that might act as a short-term ceiling. Bulls are firmly in management, however the market stays cautious as this degree represents the ultimate main hurdle earlier than a possible breakout towards the $109,000 all-time excessive.
Breaking above $104,000 would seemingly set off vital momentum, pushing costs into value discovery and unleashing a brand new wave of investor optimism. Nonetheless, this space may additionally invite elevated profit-taking and recent sell-side strain. Whether or not Bitcoin can maintain this rally will depend upon broader market dynamics and investor conviction at these highs.
In keeping with CryptoQuant, there’s cause to consider the tide is shifting. Since February 24, 2024, the platform’s Bull Bear Market Cycle indicator has constantly signaled bearish circumstances.
But, in latest days, this sign has began to flip. Though the present bullish coefficient stays weak at 0.029, it marks the primary constructive studying in weeks. Extra importantly, the Bull-Bear 30DMA, a short-term development sign, has begun to show upward. If it crosses above the longer-term 365DMA, historic information means that Bitcoin may enter a parabolic rally section just like previous bull cycles.
This confluence of value motion and on-chain momentum factors to a essential juncture. If the construction holds and indicators align, Bitcoin could also be on the verge of rewriting historical past as soon as once more.
Value Consolidates After Explosive Rally
Bitcoin is at present consolidating slightly below the $103,600 resistance degree after a strong rally that pushed the value from under $90,000 to over $103,000 in a matter of days. As proven on the 4-hour chart, BTC has printed a good bullish flag proper under a key provide zone, suggesting continuation potential if momentum holds. The 200-period SMA ($89,946) and EMA ($92,357) are each trending upward, additional confirming the energy of the underlying uptrend and providing sturdy help in case of a pullback.
Quantity has barely decreased throughout this consolidation section, which is typical of a bullish construction the place patrons pause earlier than making an attempt a breakout. A sustained shut above $103,600 may shortly ship Bitcoin towards the all-time excessive zone round $109,000. Nonetheless, failure to interrupt this resistance may result in short-term profit-taking and a retest of the $100,000 degree as psychological help.
General, the value construction stays very constructive, and the latest clear break above the earlier vary between $92K–$98K provides weight to the bullish thesis. Bulls are in management for now, however the subsequent few periods will decide whether or not this momentum results in value discovery or a short-term cool-down.
Featured picture from Dall-E, chart from TradingView
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