Bitcoin's Technical Signals Point to 100% Gain by May

Bitcoin (BTC) is exhibiting multiple technical and onchain signals that suggest a rally to $100,000 is possible by May. These signals include liquidation levels, onchain data, and chart setups that all converge at the $100K target. The profitability of Bitcoin has surged, indicating a rebound in market confidence. Additionally, breakout patterns in BTC point to $100K as a potential magnet for short squeezes and euphoria.

One of the key indicators is the double-bottom pattern on BTC's daily chart, which confirms a breakout above the neckline resistance at $87,643. This pattern projects a measured move to $100,575 or above. Momentum indicators like the relative strength index (RSI) support this thesis, staying in bullish territory with more room to expand. The 50- and 200-day exponential moving averages (EMAs) have also flipped into support, offering additional tailwinds. Volume has remained steady post-breakout, showing that buyers are still in control, creating a strong foundation for Bitcoin to push toward $100,600.

On the hourly timeframe, BTC is consolidating inside a bull pennant following a sharp rally. This pattern indicates temporary indecision before the next leg higher, with the target sitting near $100,900. The pennant formed after a steep rise, suggesting that BTC price is likely coiling before resuming its up move. Despite the low volume, the structure remains intact and is supported by strong EMA alignment. A breakout above the pennant’s upper trendline could trigger fresh upside momentum, attracting short-term traders and algorithms targeting round-number breakouts.

The three-day chart shows a completed falling wedge breakout, with the price breaking a key resistance zone near $94,000. The projected move targets $102,270. Falling wedges are typically bullish reversal patterns, and BTC’s clean breakout above the upper trendline adds technical conviction. Price is also riding above the 50-3D EMA, a key trend signal. Volume surged during the breakout, suggesting strong buyer conviction. The $94,000-95,000 resistance is now capping Bitcoin’s upside attempts. Breaking it means BTC could deliver its complete measured move toward $100,000 quickly.

Liquidation data reveals a thick cluster of short liquidations around the $100,000 level. These positions often act like a magnet, pulling the price toward them as market makers hunt for liquidity. If BTC continues climbing, it will pressure short sellers who may be forced to exit, triggering a cascade of buy orders. Liquidity maps often front-run price. With such dense activity near six figures, the path of least resistance appears upward in the near term.

As of April 23, 87.3% of Bitcoin’s circulating supply was in profit, up from 82.7% when BTC last traded near $94,000 in early March. The increase indicates that a significant portion of the Bitcoin supply changed hands at lower levels during the March correction, reflecting a fresh wave of accumulation. Historically, when the Percent Supply in Profit remains above 90% for an extended period, markets tend to enter a euphoric phase. With profitability now nearing that threshold, bullish sentiment continues to build. Combined with bullish chart structures and concentrated short liquidity overhead, BTC remains positioned for a potential move toward $100,000 by May.