Bitcoin Surges 20% to $92,800, Eyes $100,000

Bitcoin (BTC) has once again taken the lead in the market narrative, surging past the $90,000 mark after a period of sideways movement. This breakout has pushed the world’s largest cryptocurrency through multiple resistance levels, raising questions about whether this is a short-term spike or the beginning of a more sustained upward trend toward six figures.

The daily chart indicates a strong technical reversal. After weeks of consolidation, BTC has surged above the 20-day, 50-day, and 100-day simple moving averages (SMAs), currently trading near $92,800. The 200-day SMA at $88,582, which was a major barrier, has now been decisively flipped into support. This breakout is further reinforced by a rising Accumulation/Distribution Line (ADL), now at 1,585.69, signaling sustained buying pressure from both retail and institutional participants. With higher lows and higher highs forming, Bitcoin appears to be entering a fresh uptrend phase.

If BTC price holds above $90,000 for the next few sessions, the $95,000–$97,000 zone is the next critical target. A breakout beyond that range could open the psychological floodgate to $100,000. Zooming in to the hourly chart, BTC is currently experiencing a slight pullback after touching $93,827, with the price now hovering near $92,083. This pullback is actually a textbook consolidation pattern following a strong impulse move. The hourly moving averages remain stacked in bullish order, with the 20-hour SMA still well above the 50, 100, and 200-hour lines. The 200-hour SMA sits around $86,992, providing plenty of cushion for support. The hourly ADL at 1,443.68 has flattened slightly, suggesting short-term profit-taking, but there’s no sign of mass exit.

If BTC price maintains support above $91,000 and reclaims $93,000 in the short term, we could see another push higher within the next 48 hours. However, a break below $90,000 could trigger a quick dip toward $88,500. Looking at the short-term target, the $95,000–$97,000 zone is based on breakout momentum and Fibonacci extension. The mid-term target is $100,000, a psychological level and measured move from the March breakout. On the downside, $88,500, followed by $85,000, are major support levels.

With momentum clearly in Bitcoin’s favor and no major resistance until $97,000, the path to $100,000 seems more probable than speculative, especially if broader market sentiment stays bullish. Bitcoin price has broken out technically and is showing clear signs of strength across both daily and hourly timeframes. The ADL confirms accumulation, the moving averages are supportive, and price action is clean. While some consolidation is expected after a move like this, the overall structure suggests Bitcoin price is far from done. If the next resistance zone is broken, Bitcoin could very well test $100,000 much sooner than most expect. Now’s the time to watch for confirmation — not hesitation.