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Bitcoin (BTC) has experienced another rollercoaster week, rallying up to $87,400 before falling nearly 4% as markets absorbed the aftermath of the latest FOMC meeting. Despite this retreat, analysts remain cautiously optimistic that the leading cryptocurrency could still be marching toward the $100,000 milestone.
Currently trading well below its all-time high of $109,300 recorded in January, Bitcoin appears to be in a phase of consolidation. But according to market analysts, this cooling-off period may actually be setting the stage for the next big move.
Credible Crypto: “Bitcoin May Be Ready to Explode”
Renowned crypto analyst Credible Crypto believes Bitcoin is approaching a critical breakout point. Sharing insights on X (formerly Twitter), the analyst pointed to the $88,000 resistance zone as a key level to watch. If Bitcoin manages to break through this zone, it could unlock the path back to six-figure territory.
“As long as the $78,000 support level holds, a rebound from here could push Bitcoin into a new expansion phase,” said Credible Crypto. The analyst also noted that similar pullbacks have preceded major rallies in the past, suggesting that the recent drop to $84,000 is more of a healthy correction than a warning sign.
Rekt Capital: RSI Breakout Signals Bullish Momentum
Another respected voice in crypto analysis, Rekt Capital, pointed to a major technical signal: Bitcoin’s Relative Strength Index (RSI) has broken out of a multi-month downtrend. In a video posted on March 21, Rekt Capital explained that this breakout, which hasn’t been seen since November 2024, could signal a return of bullish momentum.
“Bitcoin approaching overbought levels on the RSI isn’t a red flag,” the analyst stated. “In fact, it often coincides with upward price action, and we may soon see a push beyond $88,500.”
He also added that breaking through $88,500 would bring BTC back into a reaccumulation range—a move that could potentially lead the price closer to the $100K mark. Rekt Capital dismissed bearish concerns, noting that the current pattern resembles a downside deviation rather than the start of a bear market.
What’s Next for Bitcoin?
As Turkish NY Radio highlights, the coming days will be pivotal for Bitcoin holders and crypto investors. Whether BTC rebounds toward six figures or faces another retracement will depend heavily on market sentiment, macroeconomic developments, and technical confirmations.
For now, both Credible Crypto and Rekt Capital agree: Bitcoin’s recent price action may not be a sign of weakness, but rather a prelude to something bigger. Monitoring support levels, RSI trends, and resistance zones could provide key insights into BTC’s next move.
