The daily chart ofBitcoinpresents the formation of a bullish technical standard, with consolidated support in the region of$92,000and indicators pointing to continuation of the upward trend. Technical analysts identify a favorable setup for the coming days, with targets at US$100,000 and US$105,000.

Graphic pattern and key levels

Bitcoin has been forming a pattern ofcup and handle(cup with handle) on the daily chart, a classic structure that historically precedes significant upward movements. The bottom of the cup was formed in the January correction when the price tested the $85,000 region, and the handle is forming in the range between $92,000 and $97,000.

The key levels to pay attention to are:

  • Strong Support:$92,000 (50-day moving average + bottom of range)
  • Immediate resistance:US$97,500 (top of the range)
  • Target 1:US$100,000 (psychological level)
  • Target 2:US$105,000 (standard projection)

Indicators favor buyers

O RSI (Relative Strength Index)on the daily chart it is at 62, in a neutral zone with an upward trend, indicating that there is still room for appreciation before reaching overbought levels. The MACD crossed positively, signaling growing buying momentum.

To theBollinger Bandsare expanding, which usually precedes strong directional movements. Trading volume has also grown on high days, confirming the participation of buyers in the movement.

On-chain metrics corroborate

On-chain data from Glassnode shows that the amount of Bitcoin held on exchanges has reached its lowest level since 2017, suggesting that holders are moving their assets into cold storage — a sign historically associated with periods of accumulation and bullishness.

The MVRV (Market Value to Realized Value) index is at 2.1, above the historical average but still far from the levels of euphoria observed at cycle peaks (above 3.5). This suggests that the market has room to grow before reaching a high risk zone.

Notice:Technical analysis is not a guarantee of future results. This content is informative and does not constitute investment recommendations.