bullish

Bitcoin

Read

Rise

<p><a href="https://captainaltcoin.com/expert-analyst-reveals-what-will-trigger-the-next-bitcoin-rally-predicts-timeline-for-btc-price-surge-to-800k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> ended its most recent trading session with a record daily close at $101,431.58.&nbsp;</p>
<p>According to an analysis by trader Alan Santana on TradingView, Bitcoin has only traded higher than this level twice, both during intraday spikes. These previous highs occurred on December 12 and during its last ATH, setting a historical context for the latest surge.</p>
<p>Santana’s analysis suggests that Bitcoin is operating within a bullish consolidation pattern, steadily climbing higher. The repeated testing of resistance levels, combined with the absence of key corrections, highlights Bitcoin’s strength.</p>
<h2 class="wp-block-heading" id="strong-btc-s-consolidation-patterns-and-key-price-levels-strong"><strong>BTC’s Consolidation Patterns and Key Price Levels</strong></h2>
<p>The analysis identifies <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s current trading</a> behavior as a bullish pennant pattern. Unlike a bearish rising wedge, this pattern often signals a continuation of upward price movement.&nbsp;</p>
<p>The chart reveals a narrowing structure formed after an earlier strong rally, suggesting the potential for a breakout to higher levels.</p>
<p>Two critical support levels stand out: $80,000, which Bitcoin surpassed on November 11, and $90,000, identified as the strongest base during any potential flash crashes.&nbsp;</p>
<p>These levels represent psychological and technical foundations for the crypto’s price action. On the resistance side, immediate attention is drawn to $104,285.37, a price level highlighted by a blue horizontal line on Santana’s chart.&nbsp;</p>
<p>A break above this could set the stage for further growth, with Fibonacci extension targets of $113,968, $138,794, and $163,620 within reach.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="372" src="https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-1024x372.png" alt="" class="wp-image-599290" srcset="https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-1024x372.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-300x109.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-767x279.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-1536x559.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-2048x745.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-412x150.png 412w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-100x36.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-962x350.png 962w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45-788x286.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/12/unnamed-45.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Source: </em></strong><a href="https://www.tradingview.com/chart/BTCUSDT/DXqNfA9a-Bitcoin-Keeps-Rising-New-All-Time-High-Highest-Day-Close-Ever/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Alan santana</em></strong></a>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="strong-institutional-and-retail-demand-driving-market-strength-strong"><strong>Institutional and Retail Demand Driving Market Strength</strong></h2>
<p>The absence of retracements or corrections since Bitcoin crossed $80,000 suggests strong demand, as every dip is met with buying interest. Santana’s analysis attributes this behavior to robust institutional and retail participation, with selling pressure consistently absorbed.</p>
<p>The analysis also notes that the recent pause in the altcoin market aligns with historical trends during Bitcoin’s dominance phases.&nbsp;</p>
<p>When <a href="https://ambcrypto.com/is-bitcoin-near-a-market-top-analysis-of-btcs-cycle-patterns-reveals/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin surges,</a> it often attracts liquidity from other cryptocurrencies, temporarily stalling their progress. This phenomenon has historically reversed once Bitcoin stabilizes, allowing altcoins to regain momentum.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/heres-why-the-xrp-price-could-rise-to-100-by-2025/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Here’s Why the XRP Price Could Rise to $100 by 2025</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-historical-trends-and-broader-market-implications-strong"><strong>Historical Trends and Broader Market Implications</strong></h2>
<p>Santana draws parallels to previous post-halving cycles, where Bitcoin experienced an initial correction followed by sustained growth. This pattern appears to be repeating, as Bitcoin continues to rise without major pullbacks.&nbsp;</p>
<p>The analysis also highlights the broader impact of Bitcoin’s growth on the crypto market. An increasing Bitcoin value, stimulates investment and liquidity throughout the industry,&nbsp; promoting innovation and uptake.</p>
<p>Santana concludes that Bitcoin’s resilience, coupled with its historical performance, suggests further upward potential. While market participants may anticipate corrections, current trends indicate that Bitcoin remains in a powerful bullish phase.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-bitcoin-btc-price-could-hit-new-ath-amid-record-close/" rel="noopener noreferrer nofollow">Why Bitcoin (BTC) Price Could Hit New ATH Amid Record Close</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Bitcoin (BTC) Price Could Hit New ATH Amid Record Close

Table of Contents

CaptainAltcoin

Other articles published on Dec 14, 2024

XYZ Presale Sparks Market Buzz With 99,900% Growth Target and Top 20 Goal – Is It All Hype or the...

Render ($RENDER) Vs Altura ($ALU): Which Is The Better Investment For The Next 10x?

Bitcoin Supply Could Tighten as Exchanges See 124K BTC Outflows: 10x Research

Telegram removes 15 million illicit groups with AI

Only One Rule for Crypto! John Deaton Pushes for SEC-CFTC Merger

Crypto Strategist: XRP to remain above $2, XYZ and ADA target big moves

Join our free newsletter for daily crypto updates!