Matrixport Analysis: If Bitcoin Breaks Current Resistance, It May Surpass $106,000
On April 29, Matrixport's analysis on X indicated that Bitcoin's current price is approaching the resistance level of $106,000 and is steadily gaining momentum. Since March 24, Bitcoin has been attempting to break through the pressure trend line at approximately $85,712. After more than a month of buildup, although the price has seen some upward movement, it is currently facing new challenges.
The analysis suggests that if Bitcoin can successfully break through the current resistance level, it may further surpass the $106,000 mark. This potential movement is driven by multiple factors, including the continued strength of the US stock market, Trump's signals of more relaxed tariffs, and the ongoing influx of stablecoin funds, all of which provide strong support for Bitcoin's upward movement.
At the same time, as ETF fund inflows warm up, Bitcoin's momentum further strengthens, and the overall market structure shows a positive development trend.
Most analysts agree with Matrixport's analysis, although some viewpoints suggest that, based on the MACD energy bars and RSI nearing the oversold zone, the possibility of a short-term correction for Bitcoin is greater at this time.
Conclusion:
In summary, the future trajectory of Bitcoin continues to capture investors' attention, and both the current technical and fundamental factors seem to indicate a possibility of a breakout.
However, the cryptocurrency market is highly volatile, and any predictions carry uncertainty. Investors should remain cautious, analyze rationally, and avoid blindly following trends.
Do you think Bitcoin will successfully break the $106,000 resistance this time? What factors will have a key impact on Bitcoin's upcoming trajectory?
