On daily chart, Bitcoin pulled back into the 50‑day moving average and bounced.
That 50MA acted as dynamic support, catching price near the area before the push toward the 95–97k zone.
Prior Resistance Now Has to Hold
Price has broken above a key horizontal level and is now retesting that prior resistance as support
For the bullish structure to stay intact, BTC should keep closing above this support; losing it would open the door back toward the low‑90k / high‑80k area.
Fundamental Backdrop: 87k–99k Range
On‑chain data shows strong support around 87–88k, where Bitcoin recently bounced, and resistance near 98–99k, close to short‑term holder cost basis.
So the chart’s 50MA bounce and prior‑resistance retest line up with on‑chain levels: bulls want to defend the mid‑90k region and then attack the 99k ceiling.
Why Bulls Still Have the Edge
- U.S. spot BTC ETFs have pulled in around 1.6–1.7 billion dollars of net inflows over just a few days, showing renewed institutional demand.
- Data from Coinbase’s premium index and ETF flows suggests U.S. investors are turning bullish again, rotating capital out of gold and into Bitcoin.
- Global liquidity is improving as the Fed leans toward easier policy, which historically supports risk assets and especially BTC.
As long as Bitcoin holds the reclaimed resistance and the 50‑day MA, the path of least resistance remains a retest of 98–99k and, potentially, a push toward six‑figure prices. A clean break back below that zone, however, would put the 87k on‑chain support back in play.
That 50MA acted as dynamic support, catching price near the area before the push toward the 95–97k zone.
Prior Resistance Now Has to Hold
Price has broken above a key horizontal level and is now retesting that prior resistance as support
For the bullish structure to stay intact, BTC should keep closing above this support; losing it would open the door back toward the low‑90k / high‑80k area.
Fundamental Backdrop: 87k–99k Range
On‑chain data shows strong support around 87–88k, where Bitcoin recently bounced, and resistance near 98–99k, close to short‑term holder cost basis.
So the chart’s 50MA bounce and prior‑resistance retest line up with on‑chain levels: bulls want to defend the mid‑90k region and then attack the 99k ceiling.
Why Bulls Still Have the Edge
- U.S. spot BTC ETFs have pulled in around 1.6–1.7 billion dollars of net inflows over just a few days, showing renewed institutional demand.
- Data from Coinbase’s premium index and ETF flows suggests U.S. investors are turning bullish again, rotating capital out of gold and into Bitcoin.
- Global liquidity is improving as the Fed leans toward easier policy, which historically supports risk assets and especially BTC.
As long as Bitcoin holds the reclaimed resistance and the 50‑day MA, the path of least resistance remains a retest of 98–99k and, potentially, a push toward six‑figure prices. A clean break back below that zone, however, would put the 87k on‑chain support back in play.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.