The price of Bitcoin is testing the key resistance level at $96,000, and may break through $108,353. Key indicators show bullish.

The price of Bitcoin is testing the key resistance level at $96,000, potentially breaking through $108,353, with key indicators showing a bullish trend.
The next move of BTC depends on breaking through the level of $96,000 and the 200EMA trend line to achieve the potential profit of over $100,000.
The symmetrical triangle pattern indicates a breakout, and BTC may test $108,000 or even surpass ATH.
Momentum signals indicate that a bullish reversal is imminent, but traders must manage risk as the key resistance level has not yet been broken.
The price trend of BTC has attracted market participants, showing strong resilience despite continued consolidation near key support levels. Cryptocurrency analyst Dieguito Charts highlighted the key price areas and indicators that may determine the next major trend of BTC.
After rebounding from the low end of the range, BTC is currently trading within the established price range. However, it has not yet broken through the level of $96,000 or the 4-hour 200EMA trend line, which are key obstacles to the bullish momentum. Breaking through these levels decisively may indicate that BTC could rebound to $100,000 or even higher, and may even touch the all-time high (ATH).
Key technical indicators signal market sentiment
BTC shows multiple technical indicators that support a cautious optimistic outlook. The horizontal support and resistance levels are around $90,543 and $108,353, highlighting key areas for buyers and sellers. These areas have historically determined the major price trends of BTC.
The presence of moving averages indicates a mixture of short-term and medium-term trends. The red line shows short-term resistance, while the blue line emphasizes medium-term consolidation. In addition, the white dashed trend line highlights the long-term bullish trend of BTC.
It is worth noting that a symmetrical triangle pattern is forming, characterized by lower highs and higher lows. This reflects a period of market indecision but suggests a potential breakout. If the breakout becomes a reality, BTC could move towards the resistance level of $108,353, indicating a strong bullish trend.
Momentum oscillation indicators and divergence signals
The momentum oscillation indicator provides important insights into market cycles. Peaks and troughs correspond to overbought and oversold conditions respectively. Recently, due to the accumulation phase of Bitcoin, the oscillation indicator indicates that a bullish breakthrough is imminent.
In addition, the divergence signal is consistent with the potential reversal, further strengthening the bullish bias. Dieguito Charts remains cautiously optimistic and advises traders to closely monitor key levels. Stop loss has been set at breakeven point to ensure risk-free positions for cautious investors.
BTC Outlook
The trend of Bitcoin still depends on breaking key levels. The resistance level at $96,000 and 200EMA are immediate obstacles for the bulls. Continuously breaking through these areas may trigger a sustained rise to $108,353 or even a new high. However, caution is necessary before achieving these milestones.
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