By analyzing the Bitcoin chart on the weekly timeframe, we can see that after our last analysis, the price successfully hit the 80,800 target and even dropped close to the second target at 73,700.
Eventually, after forming a bottom around 74,400, Bitcoin saw renewed demand and has since surged to 93,600.
Take note: the 93,480 to 99,500 zone is a key supply area, and the primary expectation is for the price to face rejection from this level.
However, after a possible short-term correction, I expect Bitcoin to resume its upward move toward targets above 100,000.
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