Bitcoin has staged a powerful breakout above $92,000, following a period of consolidation and rejections. As the market regains momentum, it’s crucial to assess whether the recent move is sustainable or due for a retrace.

Technical Analysis

By Edris Derakhshi

The Daily Chart

On the daily timeframe, BTC has cleared the previous swing high near $92,000 with strong momentum. This move confirms a higher high, establishing a bullish structure shift after weeks of ranging. The breakout candle closed firmly above both the horizontal resistance and the 200-day moving average, located around the $89K mark.

The next major resistance sits around the $100,000 line, which also aligns with psychological interest and prior rejections. As long as daily closes hold above the $88,000-$90,000 region, the bias remains bullish.

The 4-Hour Chart

The 4H chart highlights the clean breakout above a descending trendline that capped the price for the last couple of months. After reclaiming the $80,000 support zone and consolidating beneath resistance, the price surged through $92K, flipping the structure from neutral to bullish.

Large-bodied candles characterize this impulsive move, signaling aggressive buyer interest. However, with the price extended far from the recent base, intraday traders should be cautious of pullbacks into the $88,000–$90,000 area, which now acts as demand. If the asset consolidates above this zone, continuation toward $96,000–$100,000 remains likely.

On-Chain Analysis

By Edris Derakhshi

Short-Term Holder SOPR (30-Day EMA)

The Short-Term Holder SOPR remains below 1 but is showing early signs of recovery. This indicates that many recent market participants are still selling at a loss, but the margin of those losses is shrinking. In past cycles, a gradual rise in SOPR toward 1 often marked a transition from capitulation to renewed confidence.

For now, this recovery suggests an improving sentiment among short-term holders. If SOPR can reclaim and sustain above 1, it would confirm that profit-taking behavior has returned and buyers are once again in control. Until then, the market may still be vulnerable to reactive selling on sharp pullbacks, especially from those who entered above $85,000. Continued price strength and a rising SOPR would reinforce the broader bullish case.