Analyst: Bitcoin's weekly close needs to hold above $97,000 to challenge its historical high

ChainCatcher news, according to Cointelegraph, analysts point out that if Bitcoin can close above $97,000 this week, it is expected to launch an attack on historical highs. Currently, Bitcoin has risen for three consecutive trading days, up 6% from the low of $95,000 on February 18, trading at $99,158.

Analyst Rekt Capital stated that Bitcoin is currently receiving support at the lower boundary of the triangular market structure at $97,028. Although Bitcoin has seen dips over the past three weeks, it has maintained the integrity of this pattern.

Another analyst, Warren Muppet, pointed out that Bitcoin has broken above $98,000 for the first time since February 4, and if the breakout is confirmed, it is expected to challenge historical highs.