The market price of Bitcoin (BTC) rebounded at a high of $96,000 to mark the end of April’s bullishness, potentially rising prices. However, despite breaking important resistance, BTC has not yet returned to its current market peak price, so ultimately the bull market will reopen. Interestingly, Crypto analyst Rekt Capital shared a potential price trajectory that allows Bitcoin to realize its bullish potential, leading to discovering new prices.
From $93,500 to $104,500 – Important Levels to Watch in 2025
In a recent post on X, Rekt Capital shares an interesting price forecast in the BTC market following recent price increases. Market experts explain that the price rise of Bitcoin in late April will allow assets to recover from negative deviations and return to bullish trading range.
Following this development, the best cryptocurrencies are currently facing black low resistance in the $99,000 price region. Interestingly, BTC experienced a similar situation in mid-October 2024, bringing a price rally of 80%.
Historical data is a powerful factor in price forecasts, so Rekt Capital says that Bitcoin will experience a price rejection of $99,000 as price denials are experienced by Bitcoin, which repeats the price surge seen in the fourth quarter of 2024 from this similar position. Analysts explain that Bitcoin Bulls will need to hold price movement at this support level before launching another price rally to break through the $97,000-$99,000 region.
After that, BTC could face another denial for perhaps $104,500, and could find support around $97,000 to $99,000. After establishing an ascending price channel, Rekt Capital predicts that Bitcoin will begin a surge in prices from this support level, establishing a new all-time high above $109,000.
BTC price overview
At the time of writing, Bitcoin has been trading at $96,500 after a price loss of 0.25% over the last 24 hours. However, Bitcoin has now entered a comfortable bullish territory with profits of 1.84% and 15.55% over the past seven and 30 days, respectively.
This development has been confirmed by other factors, including the Bitcoin Bull Index score, which is currently 80. This is the best since January 30th. According to a Rekt Capital analysis, the immediate price resistance of the best cryptocurrencies is at $99,000 and $104,500, with the most important support being set at $93,500.
But aside from negative macroeconomic developments, Bitcoin appears to be poised to complete a price recovery and launch it into new pricing territory.
Pexels featured images, TradingView charts
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