Bitcoin Bull Cycle Indicator flashes the 1st bullish signal since February – Details
Now, Bitcoin is facing important tests as it consolidates the mark of about $103,000 and makes a profit from last week’s strong breakthrough. After marking $104,300, the price has remained within a narrow range, indicating a period of accumulation before the next major action. The bulls seem to have an advantage, and their emotions tend to be on the continuation of the upward trend. The key level to watch is the all-time high of $109,000, which could be challenged if momentum is built in the coming days.
Insights from crypto literacy suggest that the bull and bear market cycle indicator (this indicator) has been a sign of a bear market since February 24, 2024 and has now begun to flash early signs of a potential reversal. This shift can mark a transition to a new bullish phase. Although the current signal remains weak, the upward turn of the short-term moving average is particularly noteworthy.
As macro conditions stabilize and altcoins begin to catch fire, the merger of Bitcoin at these elevated levels may be a pioneer in taking a bigger move towards new highs.
Bitcoin’s eyes continue when the key indicator flashes early bullish signals
After months of sales pressure, negative sentiment and ongoing macro uncertainty, Bitcoin is preparing to test unknown areas. After a strong rally pushed the price higher than $100,000, BTC now finds resistance close to $104,000, a key supply zone that can be used as a short-term cap. The Bulls were firmly in control, but the market was still cautious, as this level represents the last major obstacle ahead of a potential breakthrough of $109,000.
Breakdowns above $104,000 could trigger huge momentum that pushes prices towards price discovery and unleash new waves of investor optimism. However, the region may also cause increased profits and fresh seller pressure. Whether Bitcoin can sustain this episode will depend on the broader market dynamics at these highs and the beliefs of investors.
According to implicit quantities, there is reason to believe that the trend is changing. The platform’s bull and bear cycle indicators have been marking bearish since February 24, 2024.
However, in recent days, the signal has begun to flip. Although the current bullish factor remains weak at 0.029, it marks the first positive reading in a few weeks. More importantly, the short-term trend signal Bull-Bear 30DMA has begun to move upward. If it goes beyond the long-term 365DMA, historical data suggest that Bitcoin can enter a parabolic rallied period similar to past bull cycles.
This convergence of price action and on-chain momentum shows a critical juncture. If the structure remains aligned with the metrics, Bitcoin may rewrite the history again.
Price merger after explosive rally
After a strong rally, Bitcoin is currently combining resistance levels below $103,600, increasing the price from $90,000 to above $103,000 in a few days. As shown in the 4-hour chart, BTC prints a tight bullish flag below the critical supply zone, indicating sustained potential if momentum remains. Both the 200-segment SMA ($89,946) and EMA ($92,357) are on the rise, further confirming the strength of the base uptrend and providing strong support in the case of a decline.
During this merger phase, the volume dropped slightly, which is typical of the bullish structure, and buyers stopped before trying to break through. Continuous shutdowns over $103,600 could quickly send Bitcoin to historically high areas, about $109,000 left and right. However, failure to break this resistance could lead to short-term profits and retest the $100,000 psychological support.
Overall, the price structure remains very constructive, with recent cleaning breaks exceeding the previous range of 92k to 9.8k $98K, which adds weight to bullish papers. The Bulls are currently under control, but the next few meetings will determine whether this momentum leads to price discovery or short-term cooling.
Featured images from DALL-E, charts from TradingView
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