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Bitcoin (BTC) is pressing higher this week - and trader DonAlt summed it up in four words: “We love to see it."
As of Thursday, BTC is trading around $95,650, up over 2% on the week. The price has steadily climbed from its weekly opening at $93,723, tapping a high near $95,815 so far. The chart is clear: buyers are in control.
The breakout above the $90,787 level last week put bulls back in the driver’s seat. This week’s candle is confirming that strength with a clean push higher, now approaching the major resistance zone between $104,485 and $108,000. That level marked the top earlier this cycle - and it has not been tested since.
So far, Bitcoin has respected the structure. The previous range highs have flipped into support, and price is marching higher with minimal drawdown. There is no parabolic move, no wild volatility - just steady, directional pressure. That in itself is a strong signal.
The question now is whether this momentum will continue through the rest of the week. If the market closed near its current levels this week, that would be impressive.
But if it breaks above $104,000, it wouls be a whole new situation. That would put BTC back into uncharted territory, with little in the way of resistance above.
On the other hand, rejection at this zone would not be surprising either. It is a logical place for profit-taking - and for late longs to get punished if they are too aggressive.
Still, Bitcoin is not showing signs of weakness right now. The trend is up, the structure is intact and the market is leaning bullish into the weekend. It is Thursday, and so far this weekly candle is doing exactly what the bulls needed. Clean, confident and pushing toward the year’s key level.
As DonAlt put it: we love to see it.
Arman Shirinyan
Dan Burgin
