Bitcoin Price Prediction: BTC Price Targets $98K–$102K on Strong Ascending Trendline Toward Weekly Breakout

This projection is contingent on BTC maintaining key support along an established ascending trendline and confirmation through trading volume and momentum indicators.

The cryptocurrency recently bounced off support near $90,700, suggesting that buyers are defending this level. The rebound is supported by a combination of technical structure, macroeconomic sentiment, and documented institutional activity.

BTC Rebounds After Sharp Decline

Bitcoin price today closed near $91,580 after dipping to approximately $90,720. Technical charts show that the ascending trendline, which has guided BTC since mid-November, continues to act as a key support level.

Bitcoin (BTC) is maintaining its ascending trendline, rebounding from support, and approaching key resistance levels. Source: 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 via X

Kamran Asghar, a crypto market strategist analyzing BTC on TradingView, noted that Bitcoin continues to respect its ascending trendline, and recent rebounds suggest buyers are defending this level, with the next resistance zone between $91,500 and $92,000 being critical for short-term price confirmation.

Recent price movements align with a BARR (Breakout and Retest Reversal) pattern, a technical setup where an asset breaks above resistance, retests it, and then continues its trend. Institutional inflows, such as documented purchases by publicly disclosed endowments like Harvard University’s BTC holdings (reported via SEC Form 13F filings), may reinforce support at these levels. If the trendline remains intact, Bitcoin could target the $98,000–$102,000 zone.

Institutional Activity Supports Price Momentum

Significant BTC inflows into major exchanges have attracted attention. According to Arkham Intelligence data, over 500 BTC (~$46 million) were moved by market-making firms such as Wintermute, which appears to reflect liquidity provision rather than price manipulation.

Claims of Binance pumping millions into BTC to liquidate longs appear, but evidence points to regular liquidity provision, not manipulation. Source: ᴛʀᴀᴄᴇʀ via X

Crypto researcher Tracer, publishing on X, noted that BTC surged 2.3% to $92,892 today, rebounding from recent lows near $80,000, with this movement primarily reflecting absorption by institutional buyers rather than artificial pumping.

Peer-reviewed research, including a 2023 study in the Journal of Financial Economics, confirms that sharp BTC price fluctuations are often driven by institutional spot purchases rather than market manipulation. The study analyzed weekly BTC volume over multiple years and concluded that large-scale institutional buying can explain many short-term volatility spikes.

Technical Outlook: Ascending Trendline and Fair Value Gap

Technically, Bitcoin has filled a Fair Value Gap (FVG)—a price range left undertraded during fast market moves. Traders interpret FVGs as zones where price may be attracted for retesting. BTC also recently tested a bearish order block, a previously established resistance area that can influence short-term reversals.

Massive BTC outflows—14,858 in the past week and 47,292 in 30 days—suggest whales are shifting to self-custody, signaling stronger long-term holder conviction. Source: Crypto Patel via X

Crypto analyst Crypto Patel, who publishes regular BTC technical reports on Bybit, stated that the completion of the FVG and approach to the bearish order block suggest that upward setups were likely profitable for traders, with the next high-timeframe imbalance zone potentially determining Bitcoin’s near-term trajectory.

A sustained close above the higher resistance zone would invalidate the current bearish structure and potentially initiate a trend toward new all-time highs.

Short-Term Price Action and Weekly Outlook

Short-term BTC forecasts indicate potential continuation if the ascending trendline and support zones hold. An active trade setup with a 1:2 risk-to-reward ratio recently hit both profit targets, reinforcing cautious optimism. Traders are monitoring a weekly close above $92,000, which would act as a confirmation of short-term bullish momentum.

USD/JPY is consolidating within a short-term range of 156.082–156.470, with a breakout above the upper boundary signaling potential upward momentum. Source: Wolfpips123 on TradingView

Temporary consolidation, similar to patterns observed in USD/JPY trading, may occur before BTC resumes its upward trajectory. Analysts caution that momentum and trading volume confirmation are required; without them, the rebound could resemble a “dead-cat bounce” rather than a sustainable move.

Indicators to watch in the next 48–72 hours:

• Weekly close above $92,000

• Support integrity at $90,700

• Volume levels accompanying upward price action

Macro Factors and Market Sentiment

Improving macro conditions have contributed to BTC’s recovery. Softer expectations for Federal Reserve rate hikes, rising risk appetite among investors, and renewed interest in risk-on assets have supported Bitcoin’s price today.

Bitcoin (#BTC) rebounds above $90,000, with strong support holding and easing Fed concerns, fueling potential for a new upward move. Source: The Boss via X

Financial analyst The Boss, with over a decade of experience covering digital assets, observed:

“After the sharp decline, BTC reacted at local support and pushed back above a critical level, indicating renewed buyer confidence. Ongoing macro sentiment will be key in sustaining this move.”

Risks and Alternative Scenarios

While technical factors suggest potential upside, several risks could invalidate the bullish thesis:

• A break below the ascending trendline near $90,700 could signal further downside toward $88,000–$89,000.

• A weekly close below $91,000 may weaken momentum and trigger short-term selling.

• Macro headwinds, including unexpected Federal Reserve tightening or sudden drops in risk-on sentiment, could reverse gains.

A short-term BTCUSDT long setup with a 1:2 risk-to-reward ratio was executed successfully, hitting both targets, with traders now watching for a weekly close above $92K. Source: ruanava on TradingView

Investors should monitor these levels closely and consider both bullish and bearish scenarios when planning trades or assessing Bitcoin exposure.

Looking Ahead: Bitcoin Price Forecast

Overall, Bitcoin’s current price structure, combined with institutional support and improving macro conditions, suggests a cautiously positive outlook. If BTC maintains its ascending trendline and confirms a weekly close above $92,000, the next potential target is $98,000–$102,000.

Bitcoin was trading at around 92,642.15, up 1.98% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin

Traders and investors should focus on key support levels, trading volume, and momentum indicators to validate ongoing bullish trends while remaining mindful of downside risks.