Examining Bitcoin's Value: The Last Crucial Resistance Point Prior to a Record High

Bitcoin has regained a bullish stance after surpassing a significant resistance level at $95K. The critical threshold of $100K is now the focus, which could lead to profit-taking or pave the way to record highs.

After a brief period of consolidation around the $95K mark, increased buying pressure pushed the price higher, indicating the continuation of the bullish trend initiated earlier this year. If the $100K level is conclusively breached, a strong rally could follow, with the next logical target being Bitcoin’s all-time high at $109K.

However, the $100K mark also carries a significant psychological weight and aligns with a previous major high, posing a substantial challenge. Failure to surpass $100K could lead to a corrective pullback towards the $90K support zone. Nonetheless, the most likely scenario in the short term is a consolidation phase below $100K before a potential breakout.