Cryptocurrency markets are surging on Thursday, with Bitcoin reclaiming $100,000 and XRP leading a broader altcoin rally.
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Trader Notes:With Bitcoin experiencing heightened volatility, crypto trader Jelle noted that the price action is unfolding as expected.
He emphasized that the key support area is now $100,000, and a break above this level could propel prices significantly higher.
Still going as planned.
Looks like the key area is now support – break $100,000 and this goes a lot higher IMO.
Looking good! #Bitcoin pic.twitter.com/XZgPeyn14k
More Crypto Online highlighted that Bitcoin’s recent upward move has a first target zone of $104,185–$106,415, with $113,166–$118,550 as the next zone if these targets are hit.
Crypto trader Pentoshi expects another reversal on lower timeframes that could translate into higher timeframe movements.
He pointed out that the key indicator to monitor is “each consolidation becoming shorter than the previous one as price accelerates.”
Trader Javon Marks observedthat Bitcoin’s 48-hour chart confirmed a hidden bullish divergence.
He noted that a similar setup during election time previously resulted in a 40–50% price spike.
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