Bitcoin’s Next Stop: $106K? Matrixport Says $95.6K Breakout Is the Launchpad

Crypto bulls, sharpen your spreadsheets—Matrixport just flashed a big green arrow on Bitcoin’s chart. The playbook? Clear $95.6K resistance, and the algorithm starts printing ’106K’ like a Wall Street intern discovering the ’print’ button.

Technical analysis isn’t astrology (though some hedge funds treat it that way). This prediction hinges on historical breakout patterns—where BTC tends to surge 10-15% after cracking key levels. The $95.6K barrier is this cycle’s make-or-break moment.

Of course, no crypto rally is complete without traditional finance skeptics crying ’bubble!’ right before their pension funds quietly allocate 2% to digital assets. Whether you’re stacking sats or shorting the hype, one thing’s clear: Bitcoin’s volatility just gave traders another reason to ignore their therapists.

On-Chain Metrics and Analysts Back the Bullish Setup

Investor activity is ramping up too. Data from IntoTheBlock shows over 800,000 active Bitcoin addresses in a single day—a clear signal of rising user engagement.

Institutional and retail money is also flowing back in, with $3.4 billion poured into BTC and ETH products just last week.

Top crypto analyst Carl Moon projects that a sustained move above $95,000 could lift Bitcoin toward $104,000. While price targets vary slightly, the common view is that breaking $95,636 could ignite the next major rally.

Other bullish signals in play:

• RSI at 56, offering room for more upside without overheating

• Bitcoin holding above the 50-hour SMA at $94,465

• Higher lows forming along a rising trendline since April 28

Technical Setup: Compression Pattern Points to Breakout Potential

BTC’s price is squeezing between rising support and overhead resistance—a classic compression setup that often leads to a breakout.

Currently, Bitcoin trades around $95,147, just below the $95,636 pivot point. If bulls push through, short-term targets include $96,241 and $96,858, with $106,000 in sight if momentum stays strong.

However, failure to hold above $94,465 would weaken the ascending structure, exposing Bitcoin to downside levels at $94,022 and $93,488.

Trade Setup to Watch:

• Buy trigger: Daily close above $95,636

• Stop-loss: Below $94,465

• Upside targets: $96,241, $96,858, and $106,000

Volume is critical. Without strong confirmation, any breakout risks turning into a false move. Staying patient and waiting for clear confirmation will be key