Bitcoin is holding firm above the $94,000 mark after a slight retrace from its recent peak at $97,900. Despite the pullback, bullish momentum remains intact, and price action continues to show strength. As the market enters a potentially decisive phase, investors and analysts are closely watching key technical and psychological levels that could shape Bitcoin’s next move.
Top analyst Axel Adler shared insights pointing to a compelling cycle-based indicator. According to Adler, this market cycle has seen two extreme points acting as key pivots. He referenced the Bitcoin Cycle Extreme Oscillator that often signals a correction when rising above 3. Right now, the oscillator remains at low levels, implying that BTC could still have room to run before any major cooling-off period.
The coming days will be crucial. With Bitcoin comfortably above $94K and well-positioned technically, traders are looking for a push toward six figures. A strong continuation could trigger broader market confidence, while any sharp rejection near resistance may hint at short-term exhaustion. Either way, all eyes are on Bitcoin as it leads the market into a pivotal week.
Bitcoin Momentum Builds Up As Buyers Target $100K
Bitcoin is now facing a major technical and psychological hurdle: the $100,000 level. After several weeks of sustained upside and sideways consolidation, bulls are preparing for what could be a decisive push. The recent retracement has been shallow, suggesting strong demand and a potential shift toward the next phase of the bull cycle. Despite broader market risks and lingering macroeconomic concerns, sentiment is improving, and the market appears to have weathered the worst of recent volatility.
Several analysts believe BTC is on the verge of a breakout. Adler, who recently shared an analysis on X, highlighted two key extremes in this cycle: $68,000 and $103,000. These levels have acted as significant pivot zones and define the boundaries of Bitcoin’s range in this macro trend. According to Adler, the Bitcoin Cycle Extreme Oscillator tends to flash overbought signals when it rises above 3, often preceding local tops. Currently, that oscillator remains at low levels, suggesting that the market still has ample room to grow before reaching an overheated state.
For Bitcoin to overheat and enter correction territory, the price would need to surge toward or beyond its all-time highs. Until then, the structure remains bullish, and reclaiming $100K could be the catalyst for a broader rally across the crypto market. As such, the coming days and weeks are shaping up to be critical for momentum traders and long-term investors alike. A clear breakout could confirm a new leg in the bull cycle—potentially sending BTC into uncharted territory above $103K.
BTC Price Action: Testing Liquidity
Bitcoin (BTC) is currently trading around $94,094 after a minor retracement from the recent high near $97,900. Despite the short-term dip, the broader trend remains bullish, with BTC holding well above key support levels. The 4-hour chart shows that the price remains significantly above the 200-period SMA at $87,702 and the 200-period EMA at $90,150—highlighting strong medium-term momentum.
The recent move appears to be a healthy consolidation within an ongoing uptrend, following a sharp breakout that began mid-April. Volume has slightly decreased during this retrace, indicating that selling pressure is not aggressive. As long as Bitcoin holds above the $92,000–$93,000 zone, bulls are likely to maintain control.
The next major resistance sits at the psychological $100,000 level, followed by $103,600—both clearly marked on the chart. A clean breakout above $100K could trigger significant upside momentum and potentially start the next leg of the bull market.
However, failure to hold above the $94K–$92K support band may lead to a retest of the $90K area and the 200 EMA. For now, the market structure remains intact, and bulls seem poised to make another attempt toward six-figure territory in the days ahead.
Featured image from Dall-E, chart from TradingView
