Why Bitcoin’s $106,000 Surge Is Just the Beginning — Our Next Target Revealed

We turned bullish on Bitcoin back on April 12/13, right when it broke above the $84,500 trend line — and it’s been a relentless climb ever since.

Our strategy to go long on call spreads has paid off, with Bitcoin now reaching $106,000. But the real question is: could this be the start?

Our next target of XXX is within sight, driven by a perfect storm of macroeconomic factors, including easing inflation fears and a market fueled by spot buying.

Here’s why this rally may be far from over.

Back on April 12, we wrote:

The trend model turned bearish on February 1 at $97,000 and has remained negative until now. It has just flipped bullish, with a stop set at $74,000.

The 21-week moving average, currently at $86,694, remains a key level for determining whether Bitcoin is in a bull or bear market—and it's now on the verge of a potential flip, signaling a possible trend shift.

Bitcoin is now breaking above the downtrend that has persisted since Trump's inauguration.

Three key reversal indicators have turned bullish, with the RSI notably climbing above 50%—a signal of strengthening momentum.

We’ve also observed a positive divergence between the RSI and Bitcoin’s price action—while Bitcoin made a lower low, the RSI did not follow suit.

This is commonly interpreted as a bullish divergence, signaling potential upward momentum.

But back to today's report.

As Bitcoin is nearly reached our $106,000 upside target and the underlying market structure is shifting, we are revising our upside target:

Full report: https://update.10xresearch.com/p/why-bitcoin-s-106-000-surge-is-just-the-beginning-our-next-target-revealed
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