Bitcoin 4H recovers support, confirms rise to $85,000 & $100,000

We've been tracking these levels recently, maybe a week or two ago and these are the most important levels. They are all moving very close to each other which reveals a critical price range.

Bitcoin is considered extremely bullish above $68,000 —see the chart.

Bitcoin first managed to move above EMA55, EMA89 and MA200 4H on the 3rd and 4th March, just to see a rejection. But, as I've been saying, resistance being challenged makes it weaker. There is no rejection as such, the better terminology is a 'retrace'.

A rejection implies a failed attempt at rising prices. If it happens, we can see a resumption of the bearish wave, a lower low in this case and this would mean a price below $62,500 and $60,000. This didn't happen.

After the challenge of $74,000 we saw a classic retrace. Each time a resistance level gets challenged, a target is hit, prices tend to move down (profit taking by traders) just to resume growing in a matter of days. That's it, this is what we are seeing now and this is confirmed by the strong higher low recently and the recovery of support.

Bitcoin is safely trading above EMA55, EMA89, MA200 and the November 2021 all-time high as well as the $70,000 psychological level, this is as good as it gets.

Since we already saw a challenge of $74,000, this opens up $80,000 as the next target, $79,000 to be exact. This isn't a strong level. The pause below 80K should be small. The next target short-term is set at $85,000 and after this one a sustained wave that will put us between $95,000 to $100,000.

When this wave develops, this same month, we will see the altcoins market bull-run, the biggest wave since late 2024. It can develop into something bigger but for now, this is all we know. Massive growth.

It has been in the making for months, a really long-time. The longer the build-up process, the stronger the wave that follows.

It will be unexpected for many but we know it is coming.

Thank you for reading. Your continued support is highly appreciated.

Namaste.