Bitcoin Builds Short-Term Strength — $95,000 Now the Level That Matters
Bitcoin shows early 4-hour chart strength, aiming to break the crucial $95,000 resistance level amid positive on-chain metrics.Summary
Bitcoin is showing early strength, trading above $92,200, with the 4-hour chart suggesting a potential bullish EMA crossover (50-EMA over 100-EMA) that could propel the price toward the key resistance at $95,700. Analysts, including those from B2BINPAY, emphasize that breaching $95,000 is essential for Bitcoin to confidently target $100,000.
Adding to the bullish outlook, the Spent Coins Age Band metric shows a significant drop in dormancy (fewer older coins moving), a pattern that has historically preceded price rallies. This on-chain signal aligns with the technical setup.
Key short-term levels to watch this week include $93,300 as the initial hurdle, with $95,700 being the decisive level for further ascent. Support is noted at $90,800; a drop below this could delay the push toward $95,000.
(Source：BeInCrypto)