Bitcoin Smashes Resistance—Here’s Where the Bulls Charge Next
Bitcoin just ripped through key resistance levels like a hot knife through butter, signaling the bull market isn’t done yet. Traders are now eyeing the next price target—and it’s a juicy one.
Why this breakout matters: After months of sideways action, BTC’s decisive move above $70k confirms institutional money hasn’t fled to traditional markets (despite what your boomer stock broker claims). The charts suggest we’re entering the ‘greed phase’ of the cycle.
The next target: $85k looks increasingly likely as the next stop, with some analysts whispering about six figures by summer. Of course, this being crypto, we could just as easily see a 20% correction tomorrow—volatility never takes vacations.
Bottom line: The crypto market continues to defy skeptics while making ‘serious investors’ clutch their pearls. Whether this is the start of a mega rally or another fakeout remains to be seen, but one thing’s certain—boring it ain’t.
How Bitcoin Defied Resistance And What It Means
ChartFreedom, in a recent X post, shared a bullish update on Bitcoin, emphasizing that the price has firmly broken above the $94,274 resistance, signaling strength and continuation in the broader uptrend. The breakout, backed by solid momentum, suggests that bulls remain firmly in control as Bitcoin eyes higher ground.
He also highlighted the significance of the 50 EMA, which continues to serve as a dynamic support level. This key moving average has been tested during previous pullbacks, providing a reliable bounce zone that reinforces the ongoing bullish structure.
ChartFreedom identified $98,691 as the next target to watch. This level aligns with previous highs and important Fibonacci expansion zones, marking it as a crucial resistance where traders may begin to take profits or reassess positions.
To capitalize on the trend, he recommended looking for buying opportunities on dips, particularly NEAR the $94,274 level, acting as a strong support. Even if Bitcoin sees a minor retracement, maintaining a bullish stance is still valid as long as the price holds above the 50 EMA, which continues to guide the current rally.
Key Indicators Flash Green: RSI, MACD And Volume Tell The Story
Bitcoin’s recent price surge is backed by a wave of strengthening technical indicators. Its Relative Strength Index (RSI) has moved above the neutral 50 level and is now hovering in the bullish zone, signaling growing buyer dominance outside overbought territory. This suggests there’s still room for upward movement without immediate risk of a reversal.
Meanwhile, the MACD is displaying a clear bullish crossover, with the MACD line pulling ahead of the signal line. When the RSI and MACD indicators align like this, it often signals the potential for sustained price appreciation.
Supporting this momentum is a noticeable uptick in volume, which provides credibility to the breakout. High volume accompanying bullish price action usually confirms that institutional and retail traders alike are participating in the move. When price, momentum, and volume all point north, it paints a convincing picture that Bitcoin’s rally may be far from over.
