Bitcoin Shrugs Off Intraday Weakness With a 12% Breakout Hope — 2 Triggers Explain How

Despite a recent sharp dip toward $89,190, Bitcoin is holding steady, maintaining a 7-day gain, with its price action remaining constructive. The positive outlook is supported by two main triggers. First, technical momentum is aligned, as confirmed by the Relative Strength Index (RSI) showing higher highs alongside price, suggesting strength within a developing cup-and-handle pattern. Second, on-chain data reveals that long-term holders (hodlers) increased their accumulation by nearly 2,400 BTC during the recent weakness. Concurrently, derivatives positioning shows a significant imbalance, with short liquidation exposure ($3.9 billion) heavily outweighing long exposure ($2.3 billion), which could fuel an accelerated breakout upon reaching key resistance. The critical levels for confirmation are clearing the handle boundary near $92,390 and breaking the neckline around $94,900, which aligns with a major short liquidation cluster. A successful breach could trigger a measured move targeting a 12% upside toward $104,000–$107,250.

(Source：BeInCrypto)