Bitcoin is back in the spotlight, surging over 3% in the past 24 hours and currently hovering around the $99,200 level. The long-anticipated $100,000 threshold is now just within reach, igniting a fresh wave of excitement and speculation across the crypto markets.
Investor sentiment is heating up as many anticipate that a decisive move beyond six figures could be imminent. However, as with every significant rally, cautionary voices are resurfacing. Analysts are closely monitoring for signs of bearish divergences and potential bull traps, both of which have historically triggered sharp reversals.
Despite these concerns, the charts tell an encouraging story. Should Bitcoin convincingly break above the $102,000 resistance level, many of the current bearish signals would be invalidated, signaling a clear escape from the prolonged sideways consolidation seen in recent weeks. A confirmed breakout could pave the way for a fresh leg higher, potentially opening new price discovery territory.
For now, all eyes remain fixed on Bitcoin’s next move — whether it’s a clean breakout or a deceptive setup remains to be seen. One thing is certain: the crypto market is poised for an eventful ride.
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