Bitcoin Poised for a Potential Surge to $116,000? Analyst Signals Strong Momentum

Despite failing to break through the $90,000 resistance level, Bitcoin has seen recent price surges, hitting a high of $92,000 before settling below this mark. Technical analysis suggests a potential reversal is forming, with key indicators pointing towards targets as high as $116,000. 4-hour charts reveal bullish divergence, indicating shifting pressure from sellers to buyers. If momentum holds, a rally could exceed $116,000. However, breaking above key resistance levels first would validate this setup.