Bitcoin (BTC) has climbed nearly 5% in the past week, reclaiming key support levels over the past three days.
Analysts suggest that if Bitcoin reclaims the $90,000 resistance level, it could trigger a 14% surge from current prices to reach the $95,000-$100,000 levels.
Bitcoin's recent price movement has shown correlation to the S&P 500, but is still trading at a solid spot premium, indicating a potential move to new local highs.
For Bitcoin to end its downside deviation period, it needs weekly closes above $88,400 and $93,500, and a retest into support to target its Macro Range.