Bitcoin is currently holding steady around the mid-$70,000 range as traders closely monitor a potential shakeout followed by a recovery, alongside a fresh crossover in the ISM New Orders Index and a chart formation reminiscent of Nvidia’s pattern before its breakout. These combined indicators suggest initial volatility may give way to an upward surge toward $100,000 if Bitcoin manages to reclaim the lost range on a weekly closing basis.
On the weekly Coinbase chart, Bitcoin hovered near $76,332 within a key support zone situated in the mid-$70,000 area. This level corresponds to an earlier consolidation phase from 2024 that later served as a launchpad for price movement; hence it is now regarded as crucial for determining future direction.
IncomeSharks cautions that traders might be overestimating how robust this support really is. When many market participants focus on one level, it often leads to price breaking through it sharply—triggering stop losses and forcing exits. Such moves can create sudden capitulation candles while bearish targets like $20,000, $40,000 or $50,000 circulate widely across social media platforms.
Following such flushes, however, IncomeSharks anticipates swift reversals. Their projection shows Bitcoin dipping below this support zone briefly before bouncing back inside and then pushing higher toward $100K. For this bullish scenario to materialize fully though, Bitcoin must retake and hold above that broken level at week’s end — signaling sellers have lost control and buyers are regaining dominance within that range.
A macro perspective comes from AO_btc_analyst who highlights Bitcoin’s alignment with recurring signals derived from the ISM New Orders Index on weekly charts. According to their February 3 update, Bitcoin has historically entered major bull runs each time this index crossed certain thresholds—and notably just did so again recently.
The analyst overlays Bitcoin’s long-term uptrend against these ISM crossings marking previous “bullish breakout” moments which corresponded with significant upward momentum during cycles like 2013–2014, 2017, and 2020–2021.
The latest crossing appears projected near early 2026 when the index hovers around 57.1—a figure interpreted as indicating improving demand conditions acting as risk-on triggers.
While not guaranteeing exact timing or magnitude due to possible market lags or external shocks, if history repeats itself these repeated crossings raise probabilities of another sustained rally starting from current levels.
Adding another layer of insight JamesEastonUK draws parallels between Bitcoin’s recent weekly chart structure and Nvidia’s setup prior to its notable rally.
The side-by-side comparison reveals both assets moving within ascending channels before briefly breaking below their lower boundaries then snapping back strongly upwards.
Specifically for Bitcoin: price tested its lower purple trendline twice (highlighted by white arrows) before rebounding sharply into recovery territory.
Nvidia exhibited similar behavior—dipping under channel support then reversing higher towards upper resistance lines shortly thereafter.>/>/>/>/'s important note here is structural similarity rather than absolute price levels since both markets operate under distinct fundamentals including liquidity profiles&amp;amp;amp;amp;amp;; news catalysts respectively........</e