The Bitcoin (BTC) price is consolidating nicely above $94,000. However, the anticipated surge back over $100,000 has still not materialised. Is Bitcoin waiting for some kind of catalyst, or will it continue the upward grind as it passes through resistance laid down since late last year?

The market can be as irrational as it likes

Top indicators for Bitcoin, such as the Stochastic RSI, RSI, and the MACD, are providing very positive signalling for the king of the cryptocurrencies on the weekly time frame. Therefore, some might be wondering why a substantial surge hasn’t taken place yet?

Firstly, the market is the market, and it can be as irrational as it likes, for as long as it likes. Secondly, there are just so many factors that affect the market, that it is just about impossible for …