Bitcoin continues to rise, surpassing the $100,000 mark, indicating a strong bullish trend backed by institutional investments and positive technical indicators.
Active Bitcoin Bullish Trend
Analyst SuperBro notes that Bitcoin is in a historic bullish trend, surpassing the $100,000 level and moving towards new targets around $110,000. The rally began in late April, with significant institutional interest, the presence of technical signals, and high trading volumes.
Technical Foundations for Growth
Bitcoin's rise from March to May reflects strong technical support and a decisive trend shift. In mid-March, BTC was around $84,000, but dipped below $80,000, hitting lows around $78,000. However, buyers established a strong base around $82,000, leading to a new consolidation phase before a subsequent rally. The emergence of a 'Golden Cross' in late April confirmed a strong bullish signal.
Volume and Market Dynamics
Volume increased sharply during major breakouts, highlighting strong market participation. Each price surge matched higher trading activity, confirming the trend. The current 50-day moving average stands at $93,473, while the 200-day average is at $93,410, providing solid dynamic support zones for potential pullbacks. Institutional investors have aggressively returned, adding stability and strengthening Bitcoin's long-term growth outlook.
The current bullish trend of Bitcoin, confirmed by technical indicators and growing volumes, indicates the likelihood of further increases in the coming weeks.
