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Bitcoin

Bitcoin’s Price Action Signals A 14% Increase, A New All-Time High Looming?

Godspower Owie
by Godspower Owie
8 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin’s price has climbed to the $99,000 level once again, sparking renewed hope about its potential to revisit higher resistance levels shortly. Given the recent upside strength and growing sentiment in the market, BTC might be heading toward the current all-time high and beyond.

Upside Breakout For Bitcoin To New Highs Incoming

Crypto expert and investor Javon Marks has predicted a possible surge for Bitcoin in the short term. Looking at BTC’s current price action, Javon Marks foresees an impending 14% increase as bullish momentum grows in the market.

Related Reading: Bitcoin Next Bullish Move In Sight? Expert Lays Out Path For BTC To $155,000 Milestone

With BTC performing similarly to past trends that triggered notable spikes, the analyst believes the asset is still in its bull phase. This prediction indicates rising optimism, with Javon Marks citing a new peak following this move.

Based on Bitcoin‘s past performances, the analyst claims prices appear to be in a situation where a significant upswing is still possible. This implies that there may be much growth to come in this ongoing bull run, suggesting that the phase is still far from over.

Considering the price action, Marks believes Bitcoin might be getting ready for a rise of more than 14% to and over the $113,386 level, marking the current “Target 2.” After that, he anticipates an extension phase that could result in a much larger move to uncharted territory.

Bitcoin
Past trends hint at a 14% rise in Bitcoin’s price | Source: Javon Marks on X

As BTC continues to maintain a bullish state, the flagship asset’s path to the $113,386 mark seems to be unfolding almost precisely as it should. Backed by historical price trends, BTC may be on the verge of initiating its next major rally as the new year progresses.

With Bitcoin trading within a key support zone, market enthusiasts predict BTC may soon surpass its present levels, targeting the next resistance level at the $100,000 threshold.

Technical expert and founder of MN Consultancy Micheal Van De Poppe has forecasted a move for Bitcoin beyond its current all-time high of $108,000. Van De Poppe made the prediction, identifying a beautiful price setup on its chart.

While BTC looks promising to revisit its all-time high, the expert highlighted that rising above $100,000 will be critical. Given the previous liquidity grab and the clear resistance regions, this indicates that BTC is moving higher once the breakout occurs.

BTC’s Upward Strength Building Slowly

After a period of stasis, BTC has seen an upward movement as it inches closer to the $100,000 mark. This renewed strength has been seen across the general crypto market since the beginning of the new year, pushing several assets toward key resistance levels.

Related Reading: Worried About When To Sell Your Bitcoin? Analyst Provides ‘Sweet Spot’ – And It’s Much Higher

As long as the market continues to trend upward, Bitcoin’s price could be bolstered by the momentum, allowing a move back to its all-time high. Other factors like growing investors’ sentiment and robust participation might fuel BTC’s bullish outlook. CoinMarketCap shows that BTC’s trading volume has increased sharply alongside its price, rising by over 43% in the past day.

Bitcoin
BTC trading at $99,046 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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