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

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.

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.

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.

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.

Featured image from Unsplash, chart from Tradingview.com