Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.
Bitcoin bulls are trying to push higherfrom just under $97,000, attempting to confirm its latest breakout above a multi-day consolidation range. After stalling near $95,000 for over a week, Bitcoin broke out to $97,000 before reversing and forming a fair value gap. Related Reading Bitcoin To Infinity? Venture Capitalist Says Crypto’s Value Vs. Dollar Has No Ceiling 1 day ago
This has led to a surge in activity on the Bitcoin blockchain, and the next outlook is whether the current structure holds for a continuationto $100,000 or if this momentum could falter at a zone of resistance. Bitcoin Reaches 6-Month Peak In Network Activity
One of the most notable shifts in market dynamics came from the on-chain side. According to crypto analyst Ali Martinez, Bitcoin just recorded its highest numberof active addresses in the past six months. As shared in a post on social media platform X, Martinez noted that 925,914 BTC addresses were active within a single day, which is an unusually high level of engagementon the Bitcoin blockchain.
The accompanying Glassnode chart reveals how steep this surge has been, building on a gradual climb that started in the last week of April. Interestingly, the spike in Bitcoin activity coincides with its recent reclaim of the $95,000 price range.
Image From X: @ali_charts
Adding to the bullish case, crypto analyst TehThomas shared a compellingtechnical analysis that pointed to a breakout continuation toward $100,000.Interpretation of the BTCUSDT 4-hour timeframe shows an almost identical structure to the one seen in mid-April.
Back then, Bitcoin consolidated near $86,000, broke out, left behind a fair value gap (FVG), retested the gap, and rallied nearly $10,000. A mirror image of this patternis currently unfolding. The Bitcoin price compressed below $95,000, broke through resistance, and created a fresh FVG between $94,200 and $95,000. BTC is now trading at $95,424. Chart: TradingView
TehThomas noted that the key is not to chase the breakout but to wait for a clean retest of the new FVG. If buyers defend that area as they did earlier this month, the road to $100,000 is structurally intact. However, even though the structure currently favors the bulls, the situation could turn bearish if Bitcoin drops back into the old range below $94,000.
Chart from TradingView Bearish Golden Pocket Setup Highlights Risk Ahead
Not all analysts are convincedthat Bitcoin will reach $100,000 again without a shakeout first. A counterview onthe TradingView platform highlights a possible short-term bearish setup based on the BTCUSDT 15-minute chart.
According to the analyst, the current upward retracement appears corrective rather than impulsive, forming a classic short setup within a strong fair value gap resistance zone. Technical analysis shows that Bitcoin has retraced into a region that aligns with a bearish fair value gap and the golden pocket zone defined by the 0.618 to 0.65 Fibonacci levels. Related Reading Bitcoin At $100K? $3 Billion In Shorts Are On The Line 12 hours ago
As it stands, the fair value gap is sitting between $97,000 and $97,450. Should price fail to break through this supply region, it could reverse and catch bulls off guard.
Chart from TradingView
At the time of writing, Bitcoin was trading at $96,040.
Featured image from Unsplash, chart from TradingView