History Rhymes: Will $BTC Bitcoin Repeat Classic Breakout Pattern To Surge Above $104K?
Market prices of Bitcoin (BTC) rebounded as high as $96,000 to mark a bullish end to April and the potential start to a price uptrend. However, despite breaking key resistances, BTC is yet to return to the present market peak price, which would ultimately confirm the resumption of the bull market. Interestingly, crypto analyst Rekt Capital has shared a potential price trajectory through which Bitcoin could realize its bullish potential, leading to new price discovery.
In a recent post on X, Rekt Capital shares an intriguing price prediction on the BTC market following recent price gains. The market expert explains that Bitcoin’s price rally in late April allowed the asset to recover from its downside deviation and return to a bullish trading range.
As historical data are strong factors in price prediction, Rekt Capital states that for Bitcoin to repeat the price surge seen in Q4 2024 from this similar position, the asset will experience a price rejection at $99,000, which is expected to force prices as low as $93,500. The analyst explains that Bitcoin bulls must hold price movement at this support level before launching another price rally to break through the $97,000 – $99,000 region.
Thereafter, BTC could likely face another rejection at $104,500 and return to find support around $97,000 – $99,000. After forming an ascending price channel, Rekt Capital then predicts Bitcoin to launch a price surge from this support level, moving past $109,000 to establish a new all-time high.
