Analysts warn that: Pay attention to 91,500 US dollars, a key Bitcoin level that could trigger a sharp rise.

Famous cryptocurrency analyst Josh Olszewicz shared a technical analysis article on the social platform X, stating that Bitcoin seems to be forming a clear bullish sentiment, especially when it breaks through the key resistance level of $72,000. Olszewicz used Ichimoku Cloud and Fibonacci extensions to describe a situation where breaking this key resistance level could push Bitcoin towards the target of $91,500.

This analysis utilizes Ichimoku Cloud, which is a complex technical indicator that provides insights into market momentum, trend direction, and potential support and resistance areas across different timeframes. Currently, the price trend of Bitcoin is depicted as being in a rising phase, above the cloud. This position above the cloud is traditionally considered a bullish signal, indicating a strong upward trend with strong support formed by the lower boundary of the cloud.

In Ichimoku settings, the Conversion Line (Tenkan-sen) and the Base Line (Kijun-sen) occasionally cross, providing buy or sell signals based on their intersections with the cloud. In the latest chart, the Conversion Line recently crossed above the Base Line, reinforcing the bullish outlook depicted by the cloud positioning.

To add another layer of meaning to the technical narrative, the Fibonacci extension levels have risen from a significant low point of $56,485.87 to a high point, providing potential targets and resistance levels. The 0.5 Fibonacci extension level is marked at $63,727.40, and the current price trajectory has exceeded this level.

1.0 Extension line is at $71,897.29, very close to the key level of $72,000 pointed out by analysts. In addition, the 1.618 extension line is at $83,456.87, representing the first profitable price target, while the final 2.0 extension line is at $91,513.53.

One key observation is the Trading Volume curve, which shows a decreasing trend in volume. The decrease in Trading Volume typically indicates an accumulation period, as less selling pressure stabilizes prices and may set the stage for an upward breakout. The decreasing trend line of Trading Volume has supported a period of consolidation over the past few months, indicating that once the accumulation phase ends, significant fluctuations may be imminent.

Olszewicz's emphatic comment "BTC: When it reaches $72,000, you will see some serious problems" emphasizes the high risk associated with this resistance level. This is not just a technical observation, but a signal to the market that once $72,000 is decisively broken, the path to higher levels will become increasingly likely.

This kind of breakthrough may trigger a series of trading activities, as both retail and institutional investors may see it as a confirmation of the ongoing upward trend and potentially push the price towards the significant level of $91,500 indicated by the 2.0 Fibonacci extension.

The current BTC trading price is $67,783.

(Data Source: Jake Simmons)