Major cryptocurrencies are extending their climb as Bitcoin firmly holds above the $106,000 mark.
The broader crypto market is showing signs of renewed confidence, supported by positive sentiment across the U.S., including California passing a Bitcoin payment bill.
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Trader Notes: Crypto trader CRG notes that Bitcoin is struggling to reclaim its previous range, suggesting a potential pause or retracement in momentum.
Meanwhile, Stockmoney Lizards remains optimistic, stating that Bitcoin is behaving as expected for a bull market, bouncing cleanly off support levels. The trader sees this as a healthy setup for a move much higher.
The Cryptomist also maintains a bullish outlook, identifying a possible falling wedge pattern, albeit speculative.
More concretely, the trader highlights a valid rising wedge in the mid-range and sets a revised target of $101,800, anticipating a breakout to $118,000–$120,000 afterward.
More Crypto Online views the current price action as a corrective rally, with upside potential. However, the analyst stresses the lack of structural confirmation for a lasting bottom.
For a more convincing bullish scenario, the current move would need to develop into a diagonal pattern or show a clear five-wave impulse upward, a key signal of a sustainable trend reversal.
Until then, caution is warranted as wave counts remain fluid during correction phases.
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