Bitcoin Price Surges Towards $95K: Bulls Seeking New Highs

Bitcoin is experiencing a surge, currently trading around the $91,600 mark. This movement comes as market sentiment remains in extreme fear, reflected by the Fear & Greed Index at 22. The crypto market cap has climbed past $3.11 trillion following a 4% gain. Despite overall market unease, bullish signals are emerging as Bitcoin attempts to break free from its recent bearish grip. The asset’s trading volume has surged by over 23%, reaching $73.54 billion. Recent price action indicates heavy fluctuations, with crucial resistance levels yet to be tested for a sustained uptrend. 24-hour price range between $86,316 and $91,897 reveals gains of over 5.35%. The market has witnessed significant liquidations of $131.83 million worth of Bitcoin in the last 24 hours.    Analysis suggests a potential for continued bullish momentum. Key indicators like the MACD above signal line and the CMF at 0.17 suggest moderate buying pressure, bolstering short-term bullish sentiment. While Bitcoin bulls aim to push prices higher, the market needs to overcome resistance levels around $91,700 to solidify a sustained uptrend. Conversely, if the market experiences bearish pressure, support level of $91.5K could be targeted, while a bearish death cross could potentially drive prices towards $91.4K.