Bitcoin continues to trade above $95,000, targeting a key resistance range of $97,400 to $97,530.
Bitcoin at $97,400 Resistance Again
Analysts are closely watching the $97,400-$97,530 resistance zone. A breakout could enable Bitcoin to reach new heights. Veteran trader Peter Brandt noted that a renewed approach to the parabolic trendline might signal a continuation of the bull market for the cryptocurrency. "If Bitcoin regains this slope, the next leg of the bull market could propel prices toward the $125,000 to $150,000 zone."
Potential Rise to $125,000 by Q3 2025
Breaking through $97,530 could trigger a surge, with potential prices reaching $125,000 by Q3 2025. Market sentiment remains bullish, supported by technical indicators. The rise in Bitcoin beliefs may influence investment strategies and institutional interests.
Historical Breakouts Indicate Significant Gains
Historically, Bitcoin's resistance breakouts have led to notable upward trends. Analysts cite previous patterns and utilize Fibonacci levels for future performance expectations. Experts predict that should Bitcoin surpass these resistance levels, it could potentially reach higher price brackets.
Thus, Bitcoin stands at a critical resistance level, and its future growth may depend on the ability to overcome this barrier.
