Evaluation of Bitcoin's Price: Could It Touch $100K After the Recent Surge?

Bitcoin has successfully crossed a crucial resistance zone, with an increase in momentum across all timeframes and backing from on-chain activities. After mostly consolidating in April, Bitcoin has shattered the $92,000 barrier, having first reclaimed the 200-day moving average around the $89,000 mark.

This mark now serves as robust support around $88,000. The subsequent significant resistance is at $100,000, but given the bullish momentum, it is likely that it will continue to rise towards this level in the upcoming weeks. On the 4-hour chart, a healthy continuation pattern is evident as the price has soared past the $92,000 resistance with high volume.

The Net Unrealized Profit/Loss (NUPL) has made a sharp recovery, indicating that holders are once again on substantial unrealized profits without the sentiment flipping to euphoria yet, suggesting room for further growth.