Bitcoin Holds Above $88K as Traders Watch for a Move Past $100K

• Bitcoin is in a stable zone as it builds strength above its last high and traders expect a strong move soon.  
• Past patterns suggest Bitcoin may rise again after this phase as support levels hold firm and traders stay hopeful.  
• A short dip to $80K could happen before Bitcoin moves up again as its trend shows signs of another breakout.

Bitcoin ( BTC ) is currently undergoing a multi-week consolidation phase, holding above crucial market support, according to analyst Anup Dhungana. As of press, BTC is trading at $88,991, with a daily high of $89,210, suggesting sustained bullish momentum despite temporary resistance. The consolidation, marked by a green box, aligns with previous market cycles where Bitcoin consolidated briefly before explosive moves to the upside.  

Bitcoin’s Historical Price Patterns and Current Setup

The chart presents a clear fractal structure, showcasing repeated consolidation patterns followed by price expansions. Dhungana highlights how Bitcoin has experienced smaller green box consolidations, followed by yellow box consolidations, which preceded rallies. BTC is above the bull market support band, a key technical indicator suggesting that the uptrend remains intact.

A difference this time is that Bitcoin is consolidating above its previous all-time high (ATH) levels, a historically bullish sign. In previous cycles, BTC faced multiple rejections around the $64,000–$69,000 zone, as indicated by the three green circles marking prior resistance levels. However, the latest price action suggests a breakout, with Bitcoin establishing new levels of support above its previous ATH.

Key Levels and Market Expectations

Bitcoin’s price movement suggests that, while the uptrend remains intact, a liquidity grab could occur around $80,000, before further continuation to the upside. The bull market support band, represented by the blue curved line, has historically acted as an area for buyers to step in during corrective phases. Given this structure, traders should be prepared for temporary pullbacks, but the broader trend remains bullish.

The upper trendline, which previously acted as resistance during past cycles, has now flipped into support—another indicator of long-term bullish momentum. If Bitcoin follows its previous fractal behavior, the next price leg could see BTC testing $100,000 and beyond, with further consolidation expected before another rally.

Market Sentiment and Conclusion

Despite potential short-term corrections, the overall sentiment remains bullish, as reiterated by Dhungana. The 811 views and growing engagement on his analysis reflect increasing market interest in BTC’s next move. Traders and investors should watch for confirmation of the $80,000 liquidity sweep, as well as BTC’s ability to maintain support above the bull market band.

If history repeats itself, Bitcoin could be in the final stages of a consolidation phase before pushing into six-digit territory. With its current trajectory, BTC continues to prove why it remains the dominant force in the crypto market .