Bitcoin Hits 6-Month High In Active Addresses: Is $100K The Next Target?

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Bitcoin Hits 6-Month High In Active Addresses: Is $100K The Next Target? - NewsBTC

Quick Summary:

Interestingly, the spike in Bitcoin activity coincides with its recent reclaim of the $95,000 price range. Image From X: @ali_charts Adding to the bullish case, crypto analyst TehThomas shared a compelling technical analysis that pointed to a breakout continuation toward $100,000.

A counterview on the TradingView platform highlights a possible short-term bearish setup based on the BTCUSDT 15-minute chart. According to the analyst, the current upward retracement appears corrective rather than impulsive, forming a classic short setup within a strong fair value gap resistance zone.

Technical analysis shows that Bitcoin has retraced into a region that aligns with a bearish fair value gap and the golden pocket zone defined by the 0.618 to 0.65 Fibonacci levels.