Bitcoin Bulls Charge Back After $94K Dip – $107K All-Time High In Sight?

Bitcoin’s rebound from a brief retreat to $94K has traders buzzing. The rally shrugs off weak hands—proving once again that crypto winters thaw faster than Wall Street’s lunch breaks.

Key levels to watch: A decisive break above $100K could fuel the march toward $107K, while institutional FOMO lurks just offstage. Just don’t tell the SEC.

Technical indicators flash bullish, but remember: in crypto, ’support levels’ are just suggestions written in disappearing ink.

Bitcoin investors prepare for a breakout beyond $100k

Source: BTC/USDT on TradingView

Three months ago, in early February, bitcoin slumped below the psychological $100k mark and trended downward to reach $74.5k in the first week of April. The price trend has reversed swiftly since then.

A short-term range formation developed over the past two weeks, but Bitcoin has surged powerfully beyond the local highs at $97k.

The OBV has been in a steady uptrend over the past month, challenging the January highs. This was a strongly bullish sign as it underlined heavy buying pressure.

The MFI was at 70 to show bullish momentum, but has not crossed over into overbought territory. Neither has the indicator formed a bearish divergence, although Thursday’s trading session close could change that.

Source: Coinglass

The 3-month liquidation heatmap showed that a cluster of liquidation levels lay en route to BTC’s bid to a new all-time high. The $100k-$107k region was a magnetic zone that was likely to pull prices higher.

Therefore, traders can expect the ATH to be approached, possibly even surpassed.

The $91.6k-$92.3k was also a liquidity cluster that could be of importance. The proximity and size of the liquidation levels overhead made them a more likely short-term target.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion