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When Bitcoin (BTC) tries to break free from a weekly range, its price increases the key resistance barrier of USD 99,000-100,000, fueling stubborn moods among investors. Many analysts predict that the flagship rally in the next all of the time (ATH) is right around the corner, and some suggest that the initial jump can occur in the coming days.
Bitcoin up to $ 100,000 this weekend?
Over the past two weeks, Bitcoin has recovered its correction below USD 80,000, exceeding USD 90,000 and recovering the resistance of USD 93,5000 to re -entry. Price range after the US election.
As part of the recovery, cryptocurrency consolidated between USD 93,000–96,000, moving aside for recent weeks. The initial pump of the month comes out of this BTC range after it was compressed during this period, reminding its results from two weeks ago.
The analyst Daan Crypto Trades explained that BTC increased to the region 83,000–86,000 USD while recovering in mid -April, consolidating over a week before a diminutive 2% breakthrough towards the resistance of USD 87,500. Then there was a two -day “tight kitty” and a breakthrough to a recent higher range.
He suggested that Bitcoin displays “a similar configuration as a week earlier” because it expanded and compressed in the zone 93,000–96,000 USD and jumped about 2% to the sign 97,700 USD.
In addition, the largest phase of “tight chop” market capitalization could start, because its price has range from 97,050 to 97,700 USD in the last few hours.
If BTC repeats its last results, the flagship crypto can accumulate about 8% towards the recent range at the end of the weekend and restart $ 99,000 – 100,000 in the coming days.
BTC resembles Q4 2024 Price Action
Meanwhile, the Rekt Capital analyst suggested that Bitcoin may repeat his Q4 2024 performance. He Highlighted It is BTC that has regained the defects from deviating to recover its last scope of re -accumulation, but is in the face of a lower high resistance in this zone.
In particular, the cryptocurrency experienced the same situation in the scope of re -accumulation after destruction, initially rejected from a lower height to fall to the fall of coverage. A few weeks later, Bitcoin burst above the lower high resistance, repeating it as support, after which he exploded and started to the recent ATH.
The analyst noticed that the idea was first examined before the American electoral pump, suggesting that BTC can imitate its rally Q1 2024, driven by American commercial funds Bitcoin Exchange (ETFS).
“It would be poetry if Bitcoin repeated history and followed the same path in the current scope,” he said.
However, Rekkt Capital described in detail that in order to repeat itself, Bitcoin must be rejected in the amount of USD 99,000, have a sign of USD 93,500 as support, and break the range of 97,000–99,000 USD before it is rejected at a resistance level of USD 104,500.
Then the flagship crypto would have to have a range of 97,000–99,000 USD as a support for a similar breakthrough for recent ATHS.
Analyst summarized That if Bitcoin maintains the 93,500 USD mark, the price will be positioned to move through its scope of re -accumulation. Nevertheless, BTC must break “black lower, high resistance in this area, which is set to ~ 99,000 USD this week.”
Since then, Bitcoin has traded on USD 97,461, which is a 3% boost in the weekly time frame.
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