Will Bitcoin repeat the classic breakthrough mode at a speed of over $104,000?
Bitcoin (BTC) market price rebounded as high as $96,000 to mark bullishness in April and potentially starting to rise. But despite the critical resistance, BTC has not yet returned to its current market peak price, which will eventually confirm the recovery of the bull market. Interestingly, crypto analyst Rekt Capital shares a potential price trajectory through which Bitcoin can realize its bullish potential, leading to new price discoveries.
From $93,500 to $104,500 – Key Levels to Watch in 2025
On the X published on the Recent X, Rekt Capital enjoyed an interesting price forecast on the BTC market after its recent price increase. Market experts explain that Bitcoin’s price rallies in late April will allow assets to recover from their downside bias and return to bullish trading range.
After this development, the Prime Minister’s cryptocurrency now faces a price zone of $99,000. Interestingly, BTC experienced a similar situation in mid-October 2024, resulting in 80% of the price rally.
As historical data is a powerful factor in price forecasting, REKT Capital notes that to make Bitcoin repeat the price gains seen from this similar position in the fourth quarter of 2024, assets will experience a price rejection of $99,000, which is expected to force prices as low as $93,500. Analysts explained that the Bitcoin Bulls must keep the price shift at this support level before launching another price rally to break through the $97,000 to $99,000 region.
After that, BTC may face another rejection for $104,500 and return to look for $97,000 to $99,000 support. After Rekt Capital established an upward price channel, Rekt Capital predicts that Bitcoin will push prices to soar from this support level, exceeding $109,000 to establish a new all-time high.
BTC Price Overview
At the time of writing, Bitcoin’s price is $96,500 after its price loss in the past 24 hours of 0.25%. However, Bitcoin entered comfortable bullish territory with 1.84% and 15.55% gains in the past seven and thirty days, respectively.
Other factors confirmed this development, including the Bitcoin Bull Index score, which is now at 80, the highest since January 30. According to Rekt Capital’s analysis, the immediate price of the Prime Minister’s cryptocurrency is $99,000 and $104,500, with the most critical support set at $93,500.
But besides any negative macroeconomic development, Bitcoin looks ready to complete its price recovery and push into new price areas.
Featured images from Pexels, charts for TradingView
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