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BTCUSD exhibits robust bullish momentum with clear breakout possibilities. The price action confirms a breakout above the critical $100,000 psychological level, propelled by a bounce off the demand zone near $85,000. A bullish order block around $90,000 provided additional strength, leading to a break of structure (BOS) at $108,400. The market also formed a double bottom in January while retesting the bullish order block, which acted as a springboard for the ongoing uptrend.
The bullish trend remains intact, characterized by higher highs and higher lows, indicating sustained upward pressure. If BTCUSD holds above $108,400, the next target lies at $115,000, a key resistance level. However, failure to maintain this level could trigger a pullback toward $100,000 before resuming the rally. Overall, the bullish projection suggests further upside as long as the market structure remains unbroken.
BTC Key Levels
Demand Levels: $85,000, $66,800, $53,500
Supply Levels: $100,000, $103,400, $115,000
What Are the Indicators Saying?
Technical indicators confirm the bullish outlook. The MACD (Moving Average Convergence Divergence) has shown a bullish crossover, with the MACD line rising above the signal line, signaling upward momentum. The 9-day SMA (Simple Moving Average) at $99,300 acts as dynamic support, highlighting strong buying interest. Additionally, consistent volume levels further validate the market’s positive sentiment.
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