Bitcoin price is constantly testing resistance levels above $95,000 in a bid to reach and exceed the level an all-time high of $100,000 was predicted. After rising to $98,000, the cryptocurrency analyst stated that the BTC price has officially entered the parabolic phase of this trend. four-year market cycle.

Bitcoin price is entering a parabolic phase

Popular cryptocurrency analyst Rekt Capital has decided to his 517,800 followers on X (formerly Twitter) that Bitcoin, the world’s largest cryptocurrency, has officially and fully transitioned to its “Parabolic growth phase”this bull cycle. The analyst shared a chart illustrating this situation coin price action during the 2021 bull run and current bull cycle.

After that event by half in 2022, the price of Bitcoin experienced a massive rally that pushed it to an all-time high in 2021 of over $64,000. During this time, Bitcoin experienced a significant correction before fully entering the bullish phase.

Interestingly, a similar trend can also be observed in this bull cycle, signaling the possibility of further price increases. Over the last few months, the BTC price has reached approx re-accumulation phase characterized by slight declines and consolidation before recording the next one enhance above $99,000.

Rekt Capital revealed that after BTC reached $98,000, the pioneering cryptocurrency has successfully entered a parabolic growth phase. This phase suggests that Bitcoin may rise even higher, meeting analysts’ expectations for this bull market.

On November 27, Rekt Capital too shared a post illustrating the cryptocurrency’s steady progression into a parabolic phase. He indicated that the cryptocurrency was on the verge of exiting the reaccumulation phase and entering parabolic growth, as indicated by the green zone on the price chart.

Bitcoin price: $100,000 ATH – now or never

The cryptocurrency community is in an intense bullish phase, and analysts and investors are taking notice provide Bitcoin price enhance to $100,000. Trading the leading cryptocurrency just shy of $100,000noting prices rose above $98,000 at one point last week.

A cryptocurrency analyst identified as Trader of Crypto on X is taking advantage of this powerful bullish trend, announcing that the “clock is ticking” for Bitcoin to reach $100,000. His statement highlights how close Bitcoin is to reaching the milestone this cycle.

Trader of Crypto also stated that it is only a matter of time before Bitcoin crosses the projected all-time high of $100,000. Although the analyst maintains bullish view on Bitcoinhe also presented a price chart that suggests the cryptocurrency could experience a failure to $46,757 if the bears take over.

According to CoinMarketCap, Bitcoin is currently trading at $96,965, up 1% in the last 24 hours.

Featured image from Pexels, chart from TradingView