Here Are The Major Bitcoin Support Levels To Watch As Bulls Push For $100,000 Again

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As a seasoned analyst with over two decades of experience in both traditional and digital markets, I find myself increasingly intrigued by the bullish outlook for Bitcoin presented by Trade PSH and Titan of Crypto. With my background in economics and finance, I have witnessed numerous market cycles, and the parallels between current price action and historical trends are striking.

Trade PSH, a cryptocurrency analyst, has disclosed the crucial Bitcoin support points worth keeping an eye on as Bitcoin bulls strive to drive a surge towards the significant $100,000 milestone. Furthermore, this analyst shared potential price ranges Bitcoin might attain in the near future should it break beyond $100,000.

Bitcoin Support Levels To Watch Out For As Bulls Push For $100,000

In a TradingView update, Trade PSH pointed out that the current peak stands at $99,450, with buyers continuously attempting to surpass the $100,000 mark. Additionally, the analyst identified the next significant support region around $95,000 to $96,600. This observation coincides with a recent Bitcoinist article emphasizing the importance of the $96,000 level as a key support area.

According to Trade PSH, if Bitcoin’s price continues to rise above its current support area, their primary forecast suggests a continued upward trend for the leading cryptocurrency. If Bitcoin manages to sustain an uptrend and eventually surpasses the symbolic $100,000 mark, this crypto analyst anticipates that the intermediate growth target could be set between roughly $102,000 and $102,757.

According to recent market trends, the analyst predicts that Bitcoin might surge up to an unprecedented high of $108,366. This potential increase would set a new record for Bitcoin, surpassing its current maximum value of $108,268. On the other hand, Trade PSH indicates that if Bitcoin falls below $94,300, this particular trading setup could become invalid.

As a crypto investor, I’ve been keeping an eye on the latest analysis, and it seems the Bitcoin price might surge beyond $100,000 in the short term before the year ends – quite an exciting prospect! However, it’s important to remember that this is still speculation. Looking further ahead, the bullish outlook for Bitcoin suggests a promising scenario for January 2025.

With pro-Bitcoin Donald Trump set to assume office on January 20, there’s a possibility that a Strategic Bitcoin Reserve might be established. Precedent suggests this move could follow a pattern from the previous bull run, where Bitcoin saw a price surge in January 2021. Given this history, it’s plausible we may witness a similar trend repeating itself.

BTC Is Heading Higher

In an X post, crypto analyst Titan of Crypto also provided a bullish outlook for the Bitcoin price, stating that the flagship crypto is heading higher. His accompanying chart showed that Bitcoin could rally to as high as $158,000 by May 2025. The chart also showed a price target above $220,000, suggesting that the flagship crypto could rally even higher. 

A prominent figure in cryptocurrency hinted at an ongoing bullish pattern in Bitcoin’s price, referring to it as a “mega-bullish pennant.” This pattern, visible on the monthly chart, could potentially trigger a dramatic surge in Bitcoin’s value, according to this analyst. If the trend continues as expected, Bitcoin may experience a steep increase towards the projected target price.

Currently, as I’m typing this, the value of Bitcoin is approximately $98,100 on the market, representing a decrease over the past 24 hours, based on information from CoinMarketCap.

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2024-12-26 19:16