Bitcoin’s recent price action indicates a confirmed local bottom, with analysts optimistic about a potential move towards the $100,000 mark. The Ichimoku Cloud analysis shows positive momentum, marking important support at the April high of $95,173. As the cryptocurrency nears critical resistance levels, maintaining its position above these marks will be crucial for sustaining bullish sentiment in the market.
Bitcoin has recently demonstrated a significant bullish signal, confirming a strong local bottom and increasing optimism among market analysts. This pattern emerged after April’s close showed positive gains, regaining important technical levels. Many experts suggest this could be a major step towards Bitcoin reaching the six-figure mark, raising eyebrows and hopes alike.
Market analyst, known as Titan Of Crypto on X (formerly Twitter), pointed out that Bitcoin has definitively reached what they believe is a local bottom. They shared a chart that emphasises one of the strongest bullish indicators we’ve seen for Bitcoin lately.
Delving into the Ichimoku Cloud analysis, Bitcoin’s price has closed well above the Tenkan (the red line), Kijun (the blue line), and Kumo cloud. These indicators are all showing an upward trajectory, reinforcing that Bitcoin’s current momentum and its broader trend are aligned positively. Specifically, a close above the Tenkan signals short-term bullish momentum while the Kijun supports medium-term strength. The Kumo cloud illustrates not just bullish configuration but clearly shows trend dominance as well.
Moreover, Titan of Crypto noted that Bitcoin has successfully reclaimed its April high of around $95,173, which is now acting as a new support level. Notably, the local bottom zone on their chart points to price activity between February and April 2025. During that time, Bitcoin established a higher low above the Kijun. The bullish monthly candle closing above this zone solidifies this area as a robust support base, thus reinforcing the technical case for a local bottom.
With this local bottom confirmed, Bitcoin may be on the verge of moving towards its next resistance area, identified as the “Next Point of Interest.” This potential zone lies above the $110,000 mark, ideally close to $115,000. For this optimistic scenario to progress, Bitcoin must stay above the April high and the Kijun, acting as dynamic support. Bulls need to shield these areas from any downward retracements to sustain the current momentum. If they fail, a deeper correction could jeopardise this bullish outlook.
In a subsequent post on X, Titan of Crypto highlighted that Bitcoin is breaking free from a constrained range. The latest analysis of Bitcoin using the Ichimoku Cloud suggests a promising breakout setup on the daily timeframe. Recently, Bitcoin’s price has oscillated between $92,880 and $95,800. It seems like the momentum is growing for a possible upward breakout. A confirmed close above the pivotal $95,800 would likely validate this breakout, setting the stage for a potential price target nearing $99,000.
