Bitcoin Price Prediction: $104,500 Ahead?

Bitcoin (BTC) prices recently rebounded to $96,000, ending April on a bullish note. While key resistance levels were broken, BTC hasn't yet reached its previous peak, leaving the full bull market resumption uncertain. Crypto analyst Rekt Capital has offered a potential price path for Bitcoin’s continued rise.

Bitcoin Price Targets: $93,500 - $104,500

Rekt Capital's analysis, shared on X, suggests that Bitcoin's late April rally allowed it to recover from a downward deviation and return to a bullish trading range. The current challenge is overcoming resistance at the $99,000 level. A similar situation in mid-October 2024 led to an 80% price rally.

Based on historical data, Rekt Capital predicts that if Bitcoin follows a similar pattern to Q4 2024, a price rejection at $99,000 will push prices down to around $93,500. Bulls need to hold this support level before another rally can break through $97,000 - $99,000.

Subsequently, a potential rejection at $104,500 might occur, followed by support around $97,000 - $99,000. After forming an ascending channel, Rekt Capital anticipates a surge past $109,000, setting a new all-time high.

BTC Price Overview

At the time of writing, Bitcoin is trading at $96,500, slightly down 0.25% in the last 24 hours. However, the seven-day and thirty-day gains are 1.84% and 15.55% respectively, indicating a bullish trend. This is further supported by the Bitcoin Bull Index Score, which sits at 80—its highest since January 30.

Key resistance levels are $99,000 and $104,500, with crucial support at $93,500. Barring unexpected macroeconomic events, Bitcoin appears poised for further growth.

Featured image from Pexels, chart from Tradingview

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