Bitcoin Breaks Key Resistances, Aiming for $100,000 in Upcoming Weeks

Bitcoin (BTC) is testing key resistance levels, indicating potential for higher price movements.

Key Developments:

BTC surged 2.5%, retesting the $93,500 resistance level, a range it has struggled to support over three months.
Analyst Rekt Capital highlights BTC's approach to the Bull Market Exponential Moving Average (EMA) cluster at $96,000-$97,500.
This EMA cluster historically precedes significant price movements, though typically fails to confirm as support initially.
Past cycles show the 50-week and 21-week EMAs can converge before a crossover, potentially setting up for higher price levels.

BTC closed above a multi-week downtrend, turning previous resistance into support.
The mid-zone of its local range ($90,500) aligns with prior downtrend resistance, now acting as support.
If BTC sustains above $93,500, it could challenge $100,000, with recent rejections from this level being weaker than before.

Currently, BTC trades at $94,334, marking a 2.6% weekly increase.