{"id":656718,"date":"2024-12-05T01:00:22","date_gmt":"2024-12-05T01:00:22","guid":{"rendered":"https:\/\/ktsl888.com\/?p=656718"},"modified":"2024-12-04T10:20:23","modified_gmt":"2024-12-04T10:20:23","slug":"bitcoin-price-to-100000-level","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-to-100000-level\/","title":{"rendered":"Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally"},"content":{"rendered":"

The Bitcoin price has recently attempted to reclaim the $96,400 level as support after breaking above the <\/span>bearish trend line<\/span><\/a>. A crypto analyst has underscored why this support level is crucial for <\/span>Bitcoin\u2019s next price rally<\/span><\/a>, as it could set the stage for a potential retest above the $100,000 All-Time High (ATH).<\/span><\/p>\n

Bitcoin Price Retests $96,400 To Trigger Surge To $100,000<\/h2>\n

Prominent crypto analyst Rekt Capital took to X (formerly Twitter) on December 4 to<\/span> inform<\/span><\/a> his over 518,000 followers about the current Bitcoin price action and future direction. The analyst suggested that if Bitcoin successfully tests the $96,440 support level, it could <\/span>trigger a price increase<\/span><\/a> to $100,068.<\/span><\/p>\n

Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout<\/a><\/div>\n

Sharing a price chart, Rekt Capital revealed that Bitcoin has persistently retested its series of Lower Highs, establishing them as a <\/span>key support level<\/span><\/a>. In his Bitcoin price chart, \u201cLower Highs\u201d means that each successive high point is lower than the previous point. This development is typically observed during a downtrend. However, with Bitcoin now treating these lower highs as support, it indicates a potential shift in the market, suggesting that prices may be stabilizing after <\/span>declining<\/span><\/a>.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Rekt Capital also highlighted that Bitcoin is producing longer downside wicks, indicating that its price declined significantly during the time frame, but <\/span>buyers stepped in<\/span><\/a>. The analyst emphasized that Bitcoin is currently grabbing liquidity at lower prices without breaking below the key support trendline.\u00a0<\/span><\/p>\n

A liquidity grab occurs when large volumes of orders at key price levels are triggered unexpectedly. In the case of Bitcoin, \u201cgrabbing liquidity\u201d refers to the market dipping into levels where <\/span>buy orders are clustered<\/span><\/a>, enabling large players to execute trades.\u00a0<\/span><\/p>\n

Rekt Capital has disclosed that, as long as this trend continues, Bitcoin will eventually move back up to reclaim the $96,440 level. Recovering this crucial support will allow Bitcoin to reach and even surpass <\/span>the $100,000 milestone<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here\u2019s Why<\/a><\/div>\n

Bitcoin\u2019s Bear Case Scenario<\/h2>\n

Looking at the price chart presented by Rekt Capital, several support levels are highlighted, indicating price levels that Bitcoin could fall to if it fails to reclaim the $96,440 mark. While current <\/span>Bitcoin price action<\/span><\/a> indicates that it could potentially reach $100,000, the analyst has suggested that if the pioneer cryptocurrency fails to hold the $96,440 support, it might retest a lower support level of around $91,070.\u00a0<\/span><\/p>\n

As indicated by the red line on the price chart, $91,070 is a critical price level for Bitcoin. If the cryptocurrency also falls below this level, it could <\/span>crash to new lows<\/span><\/a> around $87,325. As of writing, the price of Bitcoin is trading at $96,737, marking a 3.24% increase over the past week. A drop below the $87,300 level would represent more than a 10% crash from Bitcoin\u2019s current value.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price grinds higher in new recovery | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has recently attempted to reclaim the $96,400 level as support after breaking above the bearish trend line. A crypto analyst has underscored why this support level is crucial for Bitcoin\u2019s next price rally, as it could set the stage for a potential retest above the $100,000 All-Time High (ATH). Bitcoin Price Retests $96,400 To Trigger Surge To $100,000 Prominent crypto analyst Rekt Capital took to X (formerly Twitter) on December 4 to inform his over 518,000 followers about the current Bitcoin price action and future direction. The analyst suggested that if Bitcoin successfully tests the $96,440 support level, it could trigger a price increase to $100,068. Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout Sharing a price chart, Rekt Capital revealed that Bitcoin has persistently retested its series of Lower Highs, establishing them as a key support level. In his Bitcoin price chart, \u201cLower Highs\u201d means that each successive high point is lower than the previous point. This development is typically observed during a downtrend. However, with Bitcoin now treating these lower highs as support, it indicates a potential shift in the market, suggesting that prices may be stabilizing after declining.\u00a0 Rekt Capital also highlighted that Bitcoin is producing longer downside wicks, indicating that its price declined significantly during the time frame, but buyers stepped in. The analyst emphasized that Bitcoin is currently grabbing liquidity at lower prices without breaking below the key support trendline.\u00a0 A liquidity grab occurs when large volumes of orders at key price levels are triggered unexpectedly. In the case of Bitcoin, \u201cgrabbing liquidity\u201d refers to the market dipping into levels where buy orders are clustered, enabling large players to execute trades.\u00a0 Rekt Capital has disclosed that, as long as this trend continues, Bitcoin will eventually move back up to reclaim the $96,440 level. Recovering this crucial support will allow Bitcoin to reach and even surpass the $100,000 milestone.\u00a0 Related Reading: Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here\u2019s Why Bitcoin\u2019s Bear Case Scenario Looking at the price chart presented by Rekt Capital, several support levels are highlighted, indicating price levels that Bitcoin could fall to if it fails to reclaim the $96,440 mark. While current Bitcoin price action indicates that it could potentially reach $100,000, the analyst has suggested that if the pioneer cryptocurrency fails to hold the $96,440 support, it might retest a lower support level of around $91,070.\u00a0 As indicated by the red line on the price chart, $91,070 is a critical price level for Bitcoin. If the cryptocurrency also falls below this level, it could crash to new lows around $87,325. As of writing, the price of Bitcoin is trading at $96,737, marking a 3.24% increase over the past week. A drop below the $87,300 level would represent more than a 10% crash from Bitcoin\u2019s current value.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":652275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-656718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally<\/title>\n<meta name=\"description\" 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