The bullish April monthly candle close above this zone officially establishes this region as a strong foundational support, which validates the possibility of a local bottom from a technical standpoint. With the local bottom confirmed and momentum on its side, Bitcoin could be headed to the next likely resistance area, marked on the chart as the "Next Point of Interest.” This area sits above the $110,000 region, near $115,000. For this bullish scenario to play out, BTC must maintain its position above the April high and the Kijun as dynamic support.
He shared an Ichimoku Cloud analysis of the cryptocurrency, showing a potential bullish breakout setup on the 1-day timeframe. Related Reading: Bitcoin Price Flashes Golden Cross That Only Happens Once Every Cycle, What To Expect Looking at the price chart, Bitcoin has been consolidating between $92,880 and $95,800 over the past several days, but momentum appears to be building for a potential breakout.
Furthermore, when Bitcoin closes above all Ichimoku lines, it establishes a dynamic support or resistance zone, validating the overall bullish structure. Adding more weight to this bullish signal, Titan of Crypto revealed that Bitcoin has reclaimed the April high, a key resistance level of around $95,173, which is now acting as a support area.
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