Bitcoin's Resilient Surge Eyes $98,000 Amidst Bullish Rebound
After a period of sharp decline, Bitcoin is demonstrating renewed vigor, with buyers stepping back into the market and a clear upward momentum taking shape. The cryptocurrency has successfully reclaimed crucial support levels, setting the stage for a potential rally towards the significant $98,000 imbalance zone. However, analysts caution that while the bullish sentiment is growing, sustained conviction is still needed to solidify this recovery.
Technical Milestones Fueling Optimism
Crypto analyst Crypto Patel highlighted a pivotal technical development: Bitcoin has successfully filled its Fair Value Gap (FVG) and subsequently tapped into the Bearish Order Block, exactly as previously projected. This execution signifies a clean and predictable long setup, according to Patel. Traders who positioned themselves for this upside move, particularly those avoiding shorting the $81,000-$85,000 region, are now well-positioned to benefit from this anticipated run toward the $98,000 mark before any major corrective action takes hold.
The Path Ahead: Targets and Pitfalls
Looking forward, the focus shifts to Bitcoin's next major target within the $96,800-$98,000 FVG, identified as a high-timeframe imbalance zone. Analysts maintain a macro bullish outlook, anticipating Bitcoin to reach this $98,000 area before any significant downward leg unfolds. This recovery is partly supported by improving macro sentiment, driven by softened Federal Reserve tightening expectations, a rise in overall risk appetite, and a general shift back towards risk-on assets. To fully invalidate the current bearish bias and signal a new, sustained bullish phase leading to fresh all-time highs, Bitcoin would need a consistent high-timeframe close above $107,550. Conversely, caution remains paramount; without clear momentum indicators and sustained trading volume, the current bounce could risk being a temporary "dead-cat bounce" following aggressive sell-offs. Bitcoin must firmly hold above the $90,000-$91,000 range to build a meaningful upward wave from this base.
