Bitcoin Forms Rounding Bottom – Expert Sees Push To $100K Next Week
Bitcoin has been in a tight consolidation range, keeping below key supply levels while maintaining a strong demand area. This phase of indecision has diverged market sentiment, and many tend to be bullish, which could lead to positive moves in the coming days. Despite the persistence of uncertainty, analysts are optimistic that Bitcoin is preparing for the next major price action.
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Famous analyst Jelle shared a technical analysis on X that shows that Bitcoin is still building a 4-hour round bottom, a bullish pattern that is usually before a breakout. Jelle stressed that a new high was set on Friday, suggesting that potential momentum supported the Bulls. This formation suggests that Bitcoin may be moving towards a critical level of recovery, including the highly anticipated $100K mark.
Despite recent side price action, Bitcoin’s elasticity is higher than key demand Areas reflect potential intensity. Many traders and investors are paying close attention because this integration will soon end. Whether BTC exceeds its supply zone or goes back to a lower level, the next move will set the tone for the short-term market direction. As the market waits for confirmation, everyone’s eyes remain on Bitcoin.
Bitcoin prepares for large-scale action
As short-term price action continues to be unpredictable, Bitcoin’s price remains driven by speculation and uncertainty. Prices have been working to restore $100,000 to split analysts in the next move. Some have called for a cycle top for $109k, while others believe Bitcoin once consolidated and builds strong demand at current levels, it will lay the foundation for large-scale gatherings.
belong Technical analysis on Xstressing that Bitcoin is still on the round bottom pattern above the $94K level, is a bullish structure that signals accumulate and potential upward momentum. He noted that Friday set a new high that reinforced possible breakthroughs. According to Jelle, if Bitcoin can keep a higher low over the weekend, the Bulls could push the price to a crucial $100,000 next week.
Despite the ongoing uncertainty, the circular bottom pattern brings a hint of optimism to the market. Bitcoin’s ability to maintain a level above $9.4K reflects its resilience, even in the case of volatility. Traders and investors are closely monitoring this merger phase as it can identify the next important trend in BTC.
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If the price successfully recovers the $10.K score, then gatherings towards the top of the $109K cycle will become increasingly likely. Instead, failure to maintain the current level may lead to deeper corrections. The days that follow are crucial to Bitcoin’s short-term direction, with both the bulls and the bears competing for control.
BTC price struggles in the short term
Bitcoin briefly marked 4 hours 200 EMA for nearly $98,800, and Bitcoin is trading at $97,700, less than 3% below the critical $100,000 level. The Bulls are working to recover the $98K level and raise the price to the psychological $100k Mark, a key resistance zone that keeps BTC in the consolidation phase. Discounts over $100,000 will indicate new momentum in momentum and may lay the foundation for a strong uptrend.
The $98K and $100,000 levels are the main short-term obstacles for the Bulls, as retrieval of these areas will restore confidence and may attract more buyers. A successful breakthrough of more than $100,000 could inspire rally, bring Bitcoin into higher territory and potentially test all-time highs.
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On the other hand, the downside risk is still very high. Losing $94,000 in support levels could trigger corrections in the lower demand zone, with buyers likely stepping in to prevent further declines. Such a move would indicate ongoing market hesitation and could lead to stable or even bearish pressure.
Featured images from DALL-E, charts from TradingView
