Highlights: Bitcoin price broke out of a bearish channel and may rise 11% to $95,000 if momentum holds. Accumulation is happening, but low volume shows market hesitation. A break above $95,000 could lead to $109,000; dropping below $83,600 risks a fall to $72,000.

Hifi Tech India

Bitcoin Price Could Gain 11% If This Happens

The 1-day Bitcoin price chart showcases a recent bullish breakout from a descending channel it was in last week. BTC broke out of the purple channel and crossed above both the short-term (green) and mid-term (blue) moving averages, signalling a trend reversal. A confluence of technical factors has underpinned this rally. 

Notably, BTC remains above its 50-day but below the 200-day simple moving averages (SMA), depicted in green and blue, respectively. These moving averages have acted as dynamic support and resistance in the past, with the 50-day SMA showing signs of curving upward.

The price’s ability to hold above this dynamic indicator suggests buyers are defending this uptrend, even amidst recent volatility.

Up ahead, BTC faces a major support-turned-resistance around $95,000. A breakout above $95,000 could ignite a surge toward $109,000, while a failure to hold $90,000 might see bears target the $72,000 support level.

Volume and Sentiment Reveals Mixed Signals

The chart’s lower panel shows a slight uptick in trading volume during recent price dips, suggesting accumulation by buyers. However, volume remains below the levels seen during the November 2024 rally, indicating hesitation among market participants. This divergence could imply that a decisive move—up or down requires a catalyst, such as macroeconomic developments or institutional flows.

Broader crypto tailwinds have buoyed market sentiment. Speculation around regulatory clarity and ETF inflows has kept bulls optimistic, though geopolitical uncertainties related to President Trump’s trade tariffs and profit-taking at key levels have tempered gains. 

The Relative Strength Index (RSI) is at 52.28 and is in neutral territory, avoiding overbought conditions that plagued BTC’s earlier 2025 highs. However, there is room for more upside before becoming overbought.

Looking ahead, traders are eyeing the $95,000 level—an 11.05% move from current prices—as a potential target if bullish momentum resumes. Conversely, a drop below $83,653 could signal a deeper correction.