Bitcoin Poised for Breakout Amid Market Structure Shift
- Bitcoin is nearing a breakout from its bearish market structure.
- The cryptocurrency needs to stay above ~$98,700 to aim for $104,500 by mid-June.
- BTC is concluding its first price discovery correction period.
- Current BTC trading price is $100,792, marking a 4.2% increase in the last 24 hours.
- Bitcoin’s dominance in the crypto market stands at approximately 65%.
Bitcoin’s potential breakout from its bearish trend hinges on maintaining a price above ~$98,700, with a target of reaching $104,500 by mid-June. Currently trading at $100,792, Bitcoin has gained 4.2% in the past day.
Source (2.6)https://dailyhodl.com/2025/05/08/trader-says-bitcoin-on-cusp-of-breaking-out-of-bearish-market-structure-outlines-path-to-new-multi-month-high/?rand=59076
