#BTCBreaks99K

Bitcoin Could See A Weekend Rally To $100,000 – Is BTC Ready For New Highs?

As Bitcoin (BTC) attempts to break out from its weekly range, its price eyes the crucial $99,000-$100,000 resistance barrier, fueling bullish sentiment among investors. Multiple analysts forecast that the flagship’s crypto next all-time high (ATH) rally is around the corner, with some suggesting that the initial jump could come in the coming days.

Bitcoin To $100,000 This Weekend?

Over the past two weeks, Bitcoin has recovered from its sub-$80,000 correction, breaking above the $90,000 mark and reclaiming the $93,5000 resistance to re-enter its post-US elections price range.

Amid its recovery, the cryptocurrency consolidated between the $93,000-$96,000 range, moving sideways for the last weeks. The start-of-month pump has seen BTC break out of this range after being compressed during this period, resembling its performance from two weeks ago.

Analyst Daan Crypto Trades explained that BTC surged to the $83,000-$86,000 region during the mid-April recovery, consolidating for over a week before a small 2% breakout toward the $87,500 resistance. This was followed by a two-day “tight chop” and a breakout to a new higher range.

He suggested that Bitcoin displays “a similar setup as the week before” as it has ranged and compressed within the $93,000-$96,000 zone and jumped around 2% to the $97,700 mark.

Additionally, the largest crypto by market capitalization’s “tight chop” phase could have started as its price has hovered between $97,050 and $97,700 for the past few hours.

If BTC replicates its recent performance, the flagship crypto could rally around 8% toward a new range at the end of the weekend and retest $99,000-$100,000 in the coming days.