"A Strong Setup for Bitcoin's Surge to $110K NEXT
Bitcoin is trading around $96,000, with strong indicators pointing toward a potential surge to 110K. The cryptocurrency’s recent price action has captivated market watchers, as it consolidates within a narrow range below the $110,000 threshold.
Analysts view this consolidation phase, between $95,000 and $98,000, as a necessary breather following a major rally. It provides the market with time to stabilize before its next potential breakout.
**Consolidation or the calm before the storm?**
On the daily chart, Bitcoin’s reduced volatility highlights market indecision. Yet, technical indicators suggest a bullish undercurrent. The moving averages reveal a golden cross pattern, with the 50-day moving average staying well above the 200-day average—a strong signal of sustained bullish momentum.
With the stage set for a decisive move, Bitcoin’s next steps could determine its trajectory toward the 110K mark.
LINK ON BIO FOR ALL INFO
Analysts view this consolidation phase, between $95,000 and $98,000, as a necessary breather following a major rally. It provides the market with time to stabilize before its next potential breakout.
**Consolidation or the calm before the storm?**
On the daily chart, Bitcoin’s reduced volatility highlights market indecision. Yet, technical indicators suggest a bullish undercurrent. The moving averages reveal a golden cross pattern, with the 50-day moving average staying well above the 200-day average—a strong signal of sustained bullish momentum.
With the stage set for a decisive move, Bitcoin’s next steps could determine its trajectory toward the 110K mark.
LINK ON BIO FOR ALL INFO
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.