Bitcoin is currently in a "constructive breakout" phase. If it holds above the $94,700 support level, many technical analysts see a clear path toward $110,000 and eventually its previous all-time high of $126,000. However, keep an eye on the Senate Banking Committee—further delays or negative news regarding the crypto bill could trigger temporary volatility.
A daily candle close above $97,000–$98,000. This confirms the bulls have overcome the current resistance and are ready to push toward the $100k milestone.
If entering near current levels (~$96,500) or on a confirmed breakout:
Entry Zone: $96,000 – $97,000 (Wait for consolidation above $96k).
Stop Loss (SL): $91,800.
Reason: This is placed just below the recent support and the 21-day moving average. If BTC falls below this, the bullish structure is temporarily broken.
Take Profit (TP) Targets:
TP 1: $100,000 (Major psychological barrier; expect heavy selling here).
TP 2: $106,000 (Previous all-time high resistance).
TP 3: $110,000 (Fibonacci extension target).
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