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Bitcoin Price Update: Tight Consolidation Hints at Potential Breakout Toward $98K
Bitcoin is currently hovering near the key psychological resistance of $95,000, as bullish momentum builds following a steady recovery marked by consolidation and reduced intraday trading volume.
Bitcoin Outlook
The daily chart reflects a classic V-shaped recovery, with Bitcoin bouncing sharply from a recent low around $74,434 after falling from a high of $100,185. Since then, the price has been consolidating just below the $95,000 mark, suggesting strong accumulation. A noticeable uptick in volume during the rally points to growing buyer interest. Key support zones are located at $85,000 and $74,400, while resistance is concentrated between $95,000 and $100,000. A decisive breakout above $95,000, backed by strong volume, could revive bullish sentiment and open the path toward a potential retest of record highs—though traders should remain cautious near the upper resistance zone.
