From the daily chart of Bitcoin, a large bullish candle with significant volume broke through the nearly two-month consolidation range on April 22.
The price also rose from a low of $74,500 to $95,700.
The daily chart is currently in an upward trend; although the price continues to break previous highs, this position has reached a resistance area formed by a previous dense trading zone.
According to the principle of acute transformation, the support formed at the price range of $94,500 to $100,200 during the previous downtrend has now become an important resistance level.
From the current daily level candlestick perspective, the body of the candlesticks is gradually decreasing, and the bullish volume is also shrinking, indicating that there is some pressure above.
Therefore, this position needs to continue to closely monitor more candlestick movements.
The strength of the pattern's effectiveness is one factor; however, we are currently in a bull market, and we cannot ignore the increase in this background.
Thus, during the upward process of a bull market, all resistance levels are meant to be broken.
Therefore, as long as there are no signs of reversal in the market trend, do you think it is still impossible for Bitcoin to reach $100,000 next?