Bitcoin (#BTC ) has seen an increase of nearly 12% over the past seven days, reflecting strong momentum with the recovery of key technical levels and approaching significant resistance areas. This momentum has been partially supported by the return of whale activity – wallets holding large quantities of Bitcoin – indicating renewed accumulation by large holders.
Technical signals support the upward trend
Technical indicators such as #Ichimoku Cloud and lines #EMA confirm the presence of a strong upward trend. Chart formations indicate buyer control, with the price of BTC approaching the $100,000 threshold again. However, the continuation of this rise heavily depends on whale activity and market signals.
Analysis of whale activity: Has accumulation begun?
The number of "whale" addresses – wallets holding between 1,000 and 10,000 Bitcoin – has seen a slight but notable increase in recent days. Currently, there are 2,006 whale addresses, the highest recorded since April 21 when the number was only 2,000.
Although these daily fluctuations may seem small, they reflect significant shifts in the strategies of the larger players in the market. The recent stability in the number of whales shows that accumulation has started to rise again after a period of distribution or indecision.
The importance of tracking whales
Tracking whale activity is crucial as these entities have the potential to significantly influence market trends. Whether they are institutional investors or long-term holders, whales often act based on strategic vision and long-term insight.
An increase in the number of whale addresses may indicate renewed confidence in accumulating Bitcoin at current levels. While this does not necessarily mean an immediate sharp price movement, it adds a layer of fundamental support to the market, reducing downside risk and creating a foundation for more sustainable upward momentum if broader conditions align.
Ichimoku cloud: an indicator of strong upward trend
The Ichimoku cloud chart for Bitcoin shows clear signs of continued upward momentum:
The price is trading above the blue conversion line (Tenkan-sen) and the red baseline (Kijun-sen), indicating short-term strength and a bullish directional alignment.
These lines act as dynamic support levels, where the price rebounds at dips, reflecting buyer control.
The green cloud (Kumo) is thickening and ascending, indicating a strong support area and positive expectations for continued upward movement.
The distance between the red and green boundaries of the cloud also indicates a widening in volatility, which typically supports strong directional movements. Since the price is significantly above the cloud and all Ichimoku components are aligned in a bullish formation, the current setup supports the idea of continued upward movement at least in the short to medium term, unless a sharp reversal occurs that leads to a price close below the main lines.
Will Bitcoin surpass the $100,000 barrier before May?
Recently, Bitcoin broke the **$90,000** barrier for the first time since early March. EMA lines support the bullish narrative, as all short-term moving averages are above long-term averages and widely diverged – a sign of a strong upward trend.
If this momentum continues, Bitcoin's price may challenge key resistance levels at:
- $96,484
- $99,472
Breaking through these levels could open the door for the price to surpass the psychological barrier of **$100,000**, with the next target around $102,694.
Potential downside risks
However, caution is advised. If Bitcoin loses the ability to maintain support at $92,920, it may drop to lower levels:
- $88,839
- In the event of a downward trend forming, the price could reach $86,533.
Summary
While technical data and whale activity suggest the likelihood of a continued upward trend, Bitcoin's achievement of the **$100,000** level heavily depends on market stability and continued upward momentum. However, any weakness in support levels could lead to a downward correction, making monitoring the technical and behavioral performance of the market crucial.
