Bitcoin surged during early Thursday trading, pushing above the 50-day Exponential Moving Average (EMA), a key technical indicator that has repeatedly served as both support and resistance. Currently, the $100,000 level stands as a crucial psychological benchmark, appearing to reflect Bitcoin’s fair value in the market. Recent price action suggests that each pullback attracts renewed buying interest, reinforcing a bullish bias.
Buyers Continue to Step In on Dips
Market sentiment indicates that traders are treating every dip as a buying opportunity, suggesting a predominantly long-biased outlook. However, Bitcoin isn’t exhibiting a strong breakout momentum just yet, requiring patience from investors. Many are accumulating positions on short-term declines, awaiting a potential upside breakout.
For a decisive move higher, a fundamental catalyst is necessary. While the pro-crypto stance of the Trump administration has provided some optimism, no concrete policy actions have materialized to fuel a strong rally. As a result, Bitcoin remains in a sideways trading phase, lacking a clear directional trigger.
If BTC/USD can surpass the $110,000 resistance, the market could see a measured move of $20,000, potentially driving prices toward the $130,000 target. Until then, traders continue to accumulate on dips, positioning for an eventual breakout.
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