BTC/USDT Analysis | Has the Spark Ignited?

Bitcoin is currently at 94,479 after a strong breakout, and it seems the bulls have regained control... But will this rise hold? Or is there a surprise around the corner?

Accurate Technical Reading:

The price is above all moving averages MA(7) - MA(25) - MA(99), which gives a clear bullish signal.

The recent candles are clearly bullish with strong momentum, and the price's return above 94K after touching 91,660 means the beginning of a revenge wave from buyers.

The MACD indicator has crossed the signal line upwards, and the Histogram is sharply rising, confirming the entry of new market momentum.

Trading volumes peaked in the last candle, indicating the entry of whales and readiness for more violent movement.

93,923 has now become a new support. Breaking it will bring us back to the gray area. Price stability above it means the next target could reach 95,800 then 97,000.

My near-term expectations:

If the price stabilizes above 94,000 in the next four hours, we are strongly heading towards 95,800 - 97,000.

However, in the case of a strong break of 93,900 with selling momentum, caution is advised as it may return towards 92,500.

Golden Entry Point:

Strong entry: upon successfully retesting 93,900 - 94,000 (bullish confirmation candle).

Stop Loss: below 93,700.

First Target: 95,500

Second Target: 97,000

Partial profit-taking at each resistance level.

Message for the Smart Trader:

> The market does not forgive the indecisive… but rewards those who read it well!

✍️: Ghaith | Your smart perspective starts with a clear analysis