After a week of compression, Bitcoin escapes the tight range – next stop $100k?
Bitcoin is now trading above $96,000 after a few days of struggling to break through the resistance zone. The signal of the breakthrough gave the Bulls the power, and they returned to control after several weeks of integration. But while the move confirms bullish momentum in the near term, the key level to be achieved remains the psychological $100,000 threshold. The decisive driving force of over $100,000 can unlock a wave of upside space within the market and potentially trigger a new phase of the bull cycle.
Top analyst Daan shared a technical analysis on X and noted that BTC has officially damaged the $93,000-$96K range after a week of compressed price action. He compared the current setup to the previous merge phase, which also highlighted the need to maintain this new support before breaking through.
The days ahead will be the key to determining whether Bitcoin can sustain this momentum and confidently move towards a long six-figure milestone.
Bitcoin explodes again, but the Bulls must defend key levels
After months of sales pressure, Bitcoin once again showed signs of strength, trying to confirm a wider bullish setting that could improve the entire market. The decisive breakthrough above $90K marked a major shift in momentum that gave the Bulls the upper hand and sparked optimism about a potential push toward six-figure territory. However, wider market risks still exist, including ongoing macroeconomic uncertainty and ongoing trade conflicts between global powers, which continue to pressure investors’ sentiment.
Daan shared insights that BTC has lost from the $93K-$96K range after nearly a week of tight merger and compressed price action. This mode reflects the settings I saw before a few days ago, where similar compression leads to an upside breakout. According to Daan, this breakthrough is encouraging, but must be defended. Going back to the $93K – $96K range will ruin the current gathering and may only indicate liquidity acquisition rather than a persistent breakthrough.
Currently, Bitcoin continues to trade with strength, but the next few meetings are crucial. If the Bulls can hold over $96K and build power, it will be increasingly possible to recover the $100,000 mark. Otherwise, there is still a risk of counterattack and updates on the table.
Price Analysis: Bulls’ Target is $100,000 as Breakthrough Extension
Bitcoin’s upward trend began in mid-April, with current trading price of $97,015. This 4-hour chart shows a clear breakout over the $93K-$96K merger range, which has compressed prices for about a week. After the breakout, stable price action exceeded $95K, indicating stable demand and bullish momentum.
Both the 200-segment SMA ($86,572) and EMA ($89,048) are well below current levels, indicating that Bitcoin is much higher than the midterm support zone. This positioning reinforces the bullish structure and suggests that any area reviewed as $90K-$92K can be used as a healthy retest rather than a crash.
During the breakout period from April 23 to 24, the number has increased significantly and remained higher, which is a strong technical confirmation of the move. The resistance is now $10,000 and the secondary target is $103,600.
The Bulls must stay motivated to avoid a sharp rejection of $95,000, which could mean a breakout failing and opening the door to profit. Overall, this trend is still bullish and has upside potential, but traders should be aware of signs of fatigue in resistance.
Featured images from DALL-E, charts from TradingView
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