What’s Next for Bitcoin After the Recent Rally? Analyst Reveals Next Target

The accelerating upward trend in cryptocurrency markets in recent weeks continues to attract the attention of analysts.

Crypto analyst Ali Martinez evaluated recent price movements in Bitcoin, making important statements regarding critical technical levels and market dynamics.

According to Martinez, Bitcoin has gained over 16% in the last two weeks, breaking above a key resistance level that has defined the trend for the past six months. This breakout signals a significant shift in the market structure from a technical perspective.

The analyst specifically noted that the 100-day simple moving average (SMA) has historically acted as strong resistance. A test of this level in October resulted in a pullback of approximately 30%, while a similar attempt in January led to a 39% correction. However, the current scenario suggests that Bitcoin has strongly surpassed this level, invalidating the previous rejection pattern.

On-chain data also supports this bullish scenario. According to Martinez, large whales have accumulated approximately 10,000 BTC (around $750 million) around the 100-day SMA. This indicates that institutional and large-scale investors are taking positions with the expectation of a rise.

On the other hand, a noteworthy picture has emerged in the derivatives markets. It is stated that investors are predominantly taking long positions in futures contracts, which has created dense liquidation clusters at certain price levels. Specifically, the $70,000, $65,000, and $57,000 levels stand out as critical liquidity zones in the event of a potential pullback.

Finally, Martinez stated that with the break above the 100-day SMA, the previous bearish scenario has become invalid, triggering a new upward wave. According to the analyst, if this momentum continues, the next target for Bitcoin could be the 200-day moving average.

*This is not investment advice.