blockchainreporter.net
Following a massive surge above $107K, Bitcoin ($BTC) has recently dipped below this level but still shows significant potential. According to the popular crypto analyst Ali Martinez, Bitcoin’s price is confronting a brick wall at the $97,500-$99,800 range, and a breakout above this level could lead to latest ATHs. The analyst indicated the chance for the top crypto to soon reach latest heights.
#Bitcoin faces a brick wall between $97,500 and $99,800, where 924,000 wallets previously purchased over 1.19 million $BTC. If #BTC can manage to break above this level, we could see new all-time highs soon! pic.twitter.com/Xc8VsIwnoF
— Ali (@ali_charts) December 21, 2024
Bitcoin Witnesses a Crucial Brick Wall at the $97,500-$99,800 Range
Ali mentioned in a recent X post that despite its decline below the $100K mark, Bitcoin can regain price momentum. In this respect, he examined the resistance that the chief crypto token is witnessing. He asserted that $97,500-$99,800 is the range that is posing a brick wall to Bitcoin’s price. The analyst added that at the same point up to 924,000 wallets formerly bought more than 1.19M $BTC tokens. Breaking above the respective level could potentially push Bitcoin to exclusive ATHs.
At the moment, the top crypto asset is changing hands at $97,652.90. This figure denotes a 0.46% price surge over the last 24 hours. However, the price performance over the last 7 days displays a 4.03% dip. Additionally, Bitcoin has experienced a 0.15% price slump throughout the last 30 days. Apart from that, its market capitalization and 24-hour volume stand at $1.93T and $95.9B respectively.
Breaking Above This Price Level Could Trigger Bitcoin’s Next Price Action
In line with a likely price ascent above the brick wall at the $97,500-$99,800 range, Ali predicts Bitcoin’s potential increase to new all-time high levels. Hence, breaking above the aforementioned spot could soon trigger another price rally.