Bitcoin Surpasses $96,000 Resistance, Closing in on $100,000 Mark

Bitcoin ($BTC) has recorded another achievement in terms of price performance. As per the data from the prominent crypto analyst Crypto Dan, Bitcoin ($BTC) has exceeded the key resistance at the $96,000 while nearing the next psychological milestone of $100K. The crypto analyst discussed this bullish outlook in a recent X post.

Bitcoin Surges above Short-term Resistance at $96,000

Crypto Dan has pointed toward the rising bullishness around Bitcoin ($BTC). In this respect, Bitcoin has surpassed the key price resistance level of nearly $96K. Hence, this sheer spike has increased its potential to soon touch the psychological spot of $100K. This price surge highlights a substantial milestone in Bitcoin’s price journey toward new highs.

The market data reveals that Bitcoin has reached $96,122, reflecting a notable price increase of over $1,080. This figure accounts for a 1.14% price upsurge, indicating a bullish trend, specifically at a point where Bitcoin has outcompeted its key resistance. In addition to this, over the past seven days, Bitcoin has gained a 3.91% rise. Apart from that, the 1-month price performance of the top crypto shows a stunning 14.44% increase.

Marching toward New Chapter in Current Bull Cycle

According to Crypto Dan, the technical metrics back Bitcoin’s ongoing bullish momentum. Particularly, the Relative Strength Index (RSI) of Bitcoin maintains its heightened position while staying outside the overbought region. This suggests the significant room and potential for a further price increase.

In the meantime, the Bitcoin investors are reportedly more focused on holding their $BTC rather than selling them. Hence, the market onlookers anticipate Bitcoin’s jump to the $100,000 spot in the near term, which could commence another chapter in this bull cycle.