Bitcoin Price Confirms Local Bottom as Analysts Highlight Bullish Indicators
Bitcoin has confirmed a strong local bottom, igniting positive sentiment among analysts after April closed positively. This indicates potential movement towards six-figure price territory.
- Market expert Titan Of Crypto reports Bitcoin has hit a local bottom, supported by technical analysis.
- Ichimoku Cloud analysis shows BTC closed above key lines (Tenkan, Kijun, and Kimo), signaling bullish momentum.
- A close above the Tenkan indicates short-term strength; Kijun confirms medium-term strength.
- BTC reclaimed an April high of around $95,173, establishing it as a support level.
- Price action between February and April 2025 suggests a solid foundational support for Bitcoin.
- Potential resistance area is noted above $110,000, near $115,000.
- To maintain bullish momentum, Bitcoin must stay above the April high and Kijun as dynamic support.
- A failure to hold these levels could lead to a deeper correction.
Recent analysis shows Bitcoin breaking out of a tight range between $92,880 and $95,800. A confirmed close above $95,800 would suggest a bullish continuation, targeting near $99,000.
