Bitcoin is now going through a essential check because it consolidates across the $103,000 mark, holding features made throughout final week’s highly effective breakout. After tagging $104,300, the worth has remained regular in a slim vary, suggesting a interval of accumulation earlier than the subsequent main transfer. Bulls seem to have the sting, with sentiment leaning towards a continuation of the uptrend. The important thing stage to observe is the $109,000 all-time excessive, which could possibly 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 persistently 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 transferring common is especially notable.
With macro situations stabilizing and altcoins beginning to catch fireplace, 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 making ready to check uncharted territory after months of heavy promoting strain, damaging sentiment, and chronic macro uncertainty. Following a robust rally that pushed the worth above $100,000, BTC is now discovering resistance close to the $104,000 stage—a key provide zone that might act as a short-term ceiling. Bulls are firmly in management, however the market stays cautious as this stage represents the ultimate main hurdle earlier than a possible breakout towards the $109,000 all-time excessive.
Breaking above $104,000 would possible set off vital momentum, pushing costs into worth discovery and unleashing a brand new wave of investor optimism. Nevertheless, 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 purpose to consider the tide is shifting. Since February 24, 2024, the platform’s Bull Bear Market Cycle indicator has persistently signaled bearish situations.
But, in current days, this sign has began to flip. Though the present bullish coefficient stays weak at 0.029, it marks the primary optimistic studying in weeks. Extra importantly, the Bull-Bear 30DMA, a short-term pattern sign, has begun to show upward. If it crosses above the longer-term 365DMA, historic knowledge means that Bitcoin may enter a parabolic rally section just like previous bull cycles.
This confluence of worth 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 the moment consolidating just under the $103,600 resistance stage after a robust rally that pushed the worth from under $90,000 to over $103,000 in a matter of days. As proven on the 4-hour chart, BTC has printed a decent 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 power of the underlying uptrend and providing robust assist in case of a pullback.
Quantity has barely decreased throughout this consolidation section, which is typical of a bullish construction the place consumers 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. Nevertheless, failure to interrupt this resistance may result in short-term profit-taking and a retest of the $100,000 stage as psychological assist.
Total, the worth construction stays very constructive, and the current 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 classes will decide whether or not this momentum results in worth discovery or a short-term cool-down.
Featured picture from Dall-E, chart from TradingView
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