Bitcoin has surged past the $100K mark for the first time in months, indicating a shift in momentum favoring buyers.
Technical analysis shows BTC breaking through $100K resistance, with potential resistance at $108K and support at $99K.
On the 4-hour chart, a breakout from a rising wedge has occurred, with signs of short-term exhaustion suggesting a possible retest of $100K.
On-chain analysis reveals a plunge in exchange reserves, signaling accumulation behavior and reduced selling pressure, supporting the sustainability of the rally.