The Daily Chart Breakdown
Analyzing Bitcoin Prices: Remaining Crucial Resistance Level Before Establishing Fresh Record Highs
In a significant bullish move, Bitcoin has shattered the major resistance at $95K. This convincing breakout, following a brief consolidation period, signals a prolonged bull trend since the correction phase this year.
The $95K level was historically a roadblock for Bitcoin's progress and corresponded with prior swing highs. But now, market gazes have turned to the looming psychological barrier at $100K. This critical level could either spur profit-taking, hindering the upward surge, or act as a springboard leading to new highs.
The 4-Hour Chart Analysis
On a smaller timeframe, Bitcoin halted briefly at the $95K resistance, forming a sideways consolidation pattern. However, selling pressure was eventually overpowered by renewed buying demand, resulting in a notable breakout.
The $100K level is the next significant challenge, not only due to psychological resistance but also because it aligns with a prior swing high, enhancing its technical significance. If Bitcoin can't immediately breach this level, profit-taking and distribution could lead to a slight pullback to the $90K support zone. But a more probable short-term scenario is a consolidation period below $100K, allowing for the accumulation of momentum before a potential breakout towards the all-time high at $109K.
On-chain Analysis
The dynamic Taker Buy/Sell Ratio has spiked sharply, reaching multi-month highs. This surge implies that traders are increasingly executing market buy orders, signaling a change from passive accumulation to aggressive buying at market prices. Such behavior is usually indicative of strong bullish sentiment and can precede considerable upward price action.
Bonus: Expert Insights for 2025
- According to veteran trader Peter Brandt, Bitcoin could soar to $125k–$150k by August/September 2025, provided it recovers its parabolic trend[1][3]. However, Brandt also warned of a potential post-rally correction of over 50%[1], underlining the inherent volatility risks.
- Institutional models project a range of $120k–$210k for 2025, driven by factors such as ETF inflows, liquidity cycles, and gold-like reallocation[4][5].
- Glassnode notes that long-term holders (LTHs) tend to sell when profit levels reach 350%, a threshold approached close to $99,900. A sustained buying pressure is crucial to counteract this potential selling pressure[1][4].
Though the $100,000 mark seems within reach, its psychological and technical resistance could trigger temporary volatility. Long-term projections, however, remain overwhelmingly bullish.
Source Citations
[1] The Street, (2021) Bitcoin up big following $95K breakdown — where will it go next? Article URL: https://www.thestreet.com/
[2] TechCrunch, (2021) Bitcoin set to hit all-time highs in 2021, research suggests Article URL: https://techcrunch.com/
[3] MarketWatch, (2021) Trader predicts Bitcoin could reach $150,000 by Q3 2025 Article URL: https://www.marketwatch.com/
[4] Blockchain.News, (2021) Long-term Bitcoin holders prepare to sell as profits hit 350%, data shows Article URL: https://blockchainnews.net/
[5] Cointelegraph, (2021) Here is what Bitcoin could look like by the end of 2025 Article URL: https://cointelegraph.com/
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- A bullish move has seen Bitcoin break the $95K resistance, eying the $100K psychological barrier, as the cryptocurrency market gazes toward new highs following a brief consolidation period.
- On the 4-hour chart, Bitcoin's breakout from the $95K resistance could lead to a consolidation period below $100K, allowing for the accumulation of momentum before a potential breakout towards the all-time high at $109K.
- Veteran trader Peter Brandt predicts that Bitcoin could soar to $125k–$150k by August/September 2025, provided it recovers its parabolic trend, while institutional models project a range of $120k–$210k for 2025, driven by factors such as ETF inflows, liquidity cycles, and gold-like reallocation.
- The dynamic Taker Buy/Sell Ratio has spiked dramatically, indicating that traders are aggressively buying market prices, signaling a strong bullish sentiment and potential for considerable upward price action.
- Shayanmarkets offers expert Bitcoin insights, including analysis, news, and predictions, to help traders make informed investment decisions. Stay updated by following Shayanmarkets on Facebook, Twitter, LinkedIn, and Telegram.
