If Bitcoin (BTC) Maintains This Critical Support Level, Then $100K Is Possible Again: Analysis – CryptoMode
Bitcoin has officially confirmed the start of a new weekly cycle, according to veteran market analyst Bob Loukas. Following a four-month correction phase, Bitcoin has now pushed into week four of what could become a typical 15-week bull cycle.
With BTC currently trading around $94,500, the structure suggests a resumption of the larger four-year bull trend, provided key levels are respected.
If Bitcoin Maintains This Level, All Bets Are On
Loukas stresses that Bitcoin’s critical line in the sand is now $74,000. As long as BTC remains above this level, the bullish thesis remains intact. A break below it, however, would signal that the market has entered a new bearish phase, ending the current uptrend prematurely.
For now, early cycle behaviour remains consistent with historical bull market patterns, offering traders a clear roadmap to follow into the summer months.
What Technicals Are Strengthening the Bullish Trend?
The technical backdrop further supports this reset. Bitcoin has cleanly reclaimed both its 21-day EMA and the 200-day SMA, sitting at $89,000 and $89,360 respectively.
Momentum indicators are leaning bullish, with the RSI climbing to 67 and the Stochastic Oscillator deep in overbought territory at 90. MACD readings also show a growing bullish divergence, highlighting the strength behind this move.
On-chain activity is also picking up, and spot volumes remain healthy across major exchanges. Large wallet addresses have resumed accumulation, and open interest in futures markets continues to expand.
BTC’s Infamous $100K Mark
Traders are now eyeing the psychological $100,000 mark, but near-term resistance at $98,000 could slow the move. Maintaining weekly closes above $90,000 would keep the current bullish structure in play heading into May.
Bitcoin’s fresh weekly cycle has reset sentiment and technical structure alike, but the stakes remain high. As long as bulls defend the $74,000 floor, the market’s broader momentum remains intact, with $100,000 still a visible target on the horizon.
At press time, BTC is trading around $94K, an increase of 8.2% in the last week.
Traders now enter a critical phase where discipline matters as much as conviction — navigating short-term volatility without losing sight of the long-term uptrend building beneath the surface.
