Bitcoin is showing some serious bullish signals, suggesting we’ve hit a local bottom and a big price jump might be on the horizon. April ended strong, and analysts are feeling optimistic.
Strong Buy Signals: The Charts Speak
One expert, Titan Of Crypto, says Bitcoin has definitively bottomed out. Their charts show a super strong bullish signal using Ichimoku Cloud analysis. Basically, Bitcoin closed above all the key Ichimoku lines (Tenkan, Kijun, and the Kumo cloud), all pointing upwards. This is a very positive sign, indicating strong momentum and a clear upward trend. Closing above these lines creates a solid support level, further reinforcing the bullish picture.
Breaking Above Key Resistance
Even better, Bitcoin has reclaimed the April high (around $95,173), which is now acting as support. Looking at the price action from February to April, a higher low formed above the Kijun line. April’s strong close above this area confirms a solid support level and strengthens the case for a local bottom.
Where’s Bitcoin Headed?
With this confirmed bottom and strong momentum, the next target is around $110,000 to $115,000. But to get there, Bitcoin needs to stay above the April high and the Kijun line. If it drops below those levels, the bullish outlook could be in jeopardy.
A Recent Breakout?
Titan Of Crypto also pointed out a recent Bitcoin breakout from a tight trading range. The price has been consolidating between roughly $92,880 and $95,800, but a close above $95,800 would signal a strong breakout, potentially pushing the price towards $99,000.
