Bitcoin is once again commanding the spotlight as it trades above critical levels and prepares to challenge its all-time highs. After months of aggressive selling pressure and pessimistic sentiment, the leading cryptocurrency has staged a powerful comeback. Now hovering around the $105,000 mark, Bitcoin is showing remarkable strength, with bulls eyeing a breakout into uncharted territory.
Momentum has been building ever since Bitcoin reclaimed the $90K level, pushing swiftly through the $94K–$100K resistance zone. According to top analyst Jelle, Bitcoin is preparing to continue going above resistance levels, highlighting the force of recent buying pressure and the rapid shift in market tone. This rally has not only surprised skeptics but also reignited optimism across the crypto market.
Bitcoin is trading at a crucial inflection point, hovering above $104,000 as optimism builds around a potential trade deal between the United States and China. With geopolitical tensions showing signs of easing, markets are responding positively, and Bitcoin appears to be benefiting from the renewed risk-on appetite. The surge in price follows a sequence of key breakouts, most notably above the $90K and $100K levels, which bulls reclaimed with conviction over the past two weeks.
The current rally has brought Bitcoin to its second-highest weekly close in history, signaling a shift in macro sentiment. The aggressive buying pressure seen recently has flipped previously critical resistance levels into potential support zones. Bitcoin is now preparing to test uncharted territory, with only one major obstacle left—its all-time high around the $109K mark.
However, the coming days will be pivotal. If bulls can push decisively above the $105K mark, the likelihood of a breakout toward new highs increases significantly. But if resistance holds, a temporary consolidation could follow. Either way, Bitcoin is on the brink of defining the next chapter in its market cycle—one that could see it reach never-before-seen levels and spark broader momentum across the crypto landscape.
The daily chart shows Bitcoin trading firmly above the $104,000 level after a breakout that cleared months of resistance. Following a strong upward move from late April, BTC pushed through key psychological barriers at $90K and $100K, with buyers maintaining control as price action prints higher highs and higher lows. The current structure is forming a textbook bullish continuation, consolidating just below the $105K mark.
The 200-day simple moving average (SMA) and exponential moving average (EMA) continue trending upward, now well below the current price, confirming long-term strength and momentum. Volume has also picked up in recent sessions, supporting the breakout with strong participation from bulls.
Looking ahead, the $105,700 level—tested as the current local high—remains the next hurdle. A clean daily close above this could set the stage for an aggressive move into price discovery territory, potentially targeting the all-time high at $109K. On the downside, immediate support lies at $103,600 and $100K, both recently reclaimed levels that could serve as strong bases if a pullback occurs.
Featured image from Dall-E, chart from TradingView
