Bitcoin has broken through key resistance levels, with on-chain indicators bullish, and is expected to reach $100,000 soon.
Technical patterns such as double bottoms and descending wedge breakouts indicate strong momentum, with target prices exceeding $100,000.
Bitcoin's price has reversed from a bearish trend that lasted 20 days since April 2025. This reversal has allowed its price to break through the $95,000 threshold, rising 12% over the past week. All these signs suggest that Bitcoin's price will soon reach $100,000. Many on-chain indicators are bullish, and according to Glassnode data, recent figures show that Bitcoin's circulating supply ratio has surged from 82.7% in early March to 87.3% on April 23.
The accumulation phase indicates that holders are now realizing profits, which typically boosts market confidence. When the proportion of profitable supply remains above 90%, historical data suggests that the market may enter a euphoric state. With current figures nearing this level, positive sentiment has been firmly established.
A strong breakout from the $94,000-$95,000 range remains crucial. Currently, this range has become the upper limit of Bitcoin's upward trend. Analysts expect that once this range is broken, Bitcoin will quickly surge towards $100,000, driven by both technical and liquidity factors.
The breakout structure points to a $100,000 target.
Technical signals are also favorable for Bitcoin's rise. The daily chart for Bitcoin has formed a classic double bottom pattern, with a neckline breakout at $87,668. This structure aims for a robust trend and is expected to push Bitcoin above $100,500. Support indicators such as the relative strength index are still in the bullish zone, providing room for further gains.
The 50-day and 200-day exponential moving averages have turned into support levels. This technical shift is seen as a solid foundation for further price increases. Buyers seem to remain in control, with stable volume after the breakout, laying a strong foundation for further gains.
In the short term, the hourly chart shows Bitcoin consolidating within a bullish triangular flag pattern—this pattern typically foreshadows a brief adjustment before the next round of increases. The target price under this pattern is close to $100,900, indicating that although there may be hesitation in the short term, the long-term direction remains optimistic.
Liquidity, trading volume, and market pressure create a bullish backdrop.
The breakout of the descending wedge pattern on the three-day chart further enhances the credibility of the technicals. Bitcoin has broken through significant resistance around $94,000 and is currently trading above the 50-day moving average. The upward trend is also accompanied by a surge in volume, which usually reflects increased buyer participation and market interest.
The target price for the wedge pattern has risen to $102,270, reinforcing the view that prices still have room to rise. The accelerated volume during this breakout also indicates that market participants see this level as a starting point rather than a ceiling.
Another layer supporting the bullish outlook comes from liquidation data. Analysis shows that short liquidations are concentrated around the $100,000 mark. These levels typically act like price magnets. As market makers seek liquidity, the concentration of such liquidations may pull prices towards them, triggering further increases.
