Bitcoin Surges 14.6% as Monthly Stochastic RSI Turns Bullish

Bitcoin (BTC) has increased 14.6% in two weeks, rising from about $84,500 on April 18 to the mid-$90,000 range. This momentum indicates potential movement toward a new all-time high (ATH).

Technical Indicators

The monthly Stochastic Relative Strength Index (RSI) shows signs of a bullish crossover, suggesting upward momentum.
A similar crossover in Q3 2021 led to a 56.9% price surge.
Key support levels must be maintained for the bullish trend to continue.
Analyst Ali Martinez highlights the $95,700 support zone and $97,530 resistance level as critical for BTC's next moves.

Market Predictions

Analyst Rekt Capital states that BTC could face rejection near $104,500 after breaking through the $97,000 to $99,000 zone.
Analyst Ted suggests BTC is in a Wyckoff accumulation phase, with $96K-$99K acting as potential resistance.

While bullish sentiment prevails, analysts caution that a true supply shock is unlikely in the short term, which may limit upside potential. As of now, BTC trades at $97,142, up 0.9% in the past 24 hours.