This is a daily technical analysis of Coindesk analyst and chartered market technician Omkar Godbole.

Bitcoin (BTC) has finally surpassed a key resistance that limited recovery amounts earlier this year after he rose over 5% to $ 93,500 in 24 hours.

The leading digital asset by market value has topped the “Ichimoku cloud” confirming a bullish shift in momentum, while other major cryptocurrencies are delayed.

The Ichimoku cloud, developed by a Japanese journalist in the 1960s, is used to identify support and resistance, momentum and trend changes in price actions. The indicator includes five lines: Leading Span A, Leading Span B and the gap between the two representing the cloud, conversion line or Tenkan-sen (T), the baseline or Kijun-sen (K) and a hanging closure of the pricing line.

Crossovers above and below the cloud represent Bullish and Bearish shifts in the trend of the market, and BTC has moved over the cloud as seen in the diagram below.

The Bullish Breakout means that the cloud can now serve as support and arrest potential extractions of prices, as well as it served as resistance, and uncover recovery quantities in February and March. BTC is also back to trade over the widely traced 50, 100- and 200-day simple movement average (SMAs).

This step is now focusing on the resistance of $ 100,000, a large psychological level, followed by record heights above $ 109k. Meanwhile, support is seen for $ 88,550, which marks the convergence of the 200-day SMA and the Ichimoku cloud.

A trait under the same would lapse the bullish views.

Altcoin’s delay

Major Altcoins such as Payments-Focused XRP, Leading Meme Token Doge, Cardanos Ada, Ethereum’s native Token Eth and Solana’s Sun are not yet working on a BTC-like Bullish Breakout over the Ichimoku cloud.

The above coins, even though they are lively along with BTC’s ascent, have not yet done their respective bullish breakouts.