Is the current price surge of Bitcoin pushing it towards a new All-Time High (ATH) beyond $100K, according to the latest price analysis?

Bitcoin's price has smashed the psychological $100K barrier recently, lighting up the crypto space like never before. With buyers firmly in control, this bullish momentum shows no signs of slowing anytime soon.

Looking at the Technical Analysis, the daily chart indicates BTC climbing above the $100K resistance level, now hovering at around $103K. This breakout follows the reclamation of both the 100-day and 200-day moving averages and a retest of the long-term ascending trendline. The RSI is currently above 75, boasting strong bullish momentum, but hints at possible short-term exhaustion.

Focusing on the 4-hour chart, we observe a breakout from a rising wedge that had been forming for weeks. The price first breached the $97K-$98K range and rocketed toward $103K. The RSI, while strong, is starting to show early signs of exhaustion, potentially signaling a retest of the breakout zone around $100K or even $98K before continuation.

From an on-chain perspective, exchange reserves continue to plummet, creating new multi-year lows, supporting the long-term bullish thesis that fewer BTC available on exchanges translates to less selling pressure. This dwindling supply, coupled with the sustained breakout, strengthens the case for the rally's sustainability, even amid short-term pullbacks.

With key levels to monitor, such as $103K to $105K and the promising $107K to $120K zone, Bitcoin's future looks incredibly bullish. However, keeping an eye on support levels like $102K, $100K, $98K, and $92K in case of corrections is essential. Technical indicators like the Hourly MACD and RSI, coupled with the on-chain data and positive market sentiment, reinforce the structural strength behind this rally, emphasizing the importance of investor cost basis and institutional flows in determining Bitcoin's journey ahead.

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Enrichment Data:After the recent breakout beyond $100,000, it's essential to pay close attention to the upcoming resistance levels and support zones for sustainable bullish continuation.

Key Resistance Levels

$103,500 - $105,000 Zone: Strong initial resistance could be found near $103,500, with further resistance at $104,500 and $105,000. Overcoming $105,000 may lead to further gains toward $106,500 and $108,000[4].
$107,000 - $120,000 Zone: This area represents a significant resistance milestone in the medium term[5].

Key Support Levels

$102,200: This level acts as immediate support, bolstered by a new bullish trendline on the hourly chart[4].
$100,000: A significant psychological and technical support level that aligns with the 50% Fibonacci retracement of the recent upward move from approximately $95,800 to $104,000[4][5].
$98,800 and $97,500: Further support zones if the price dips below $100,000, with solid support at $96,200 during deeper pullbacks[4].
$92,000: Support identified from previous price action, crucial if short-term profit-taking occurs[5].

Technical Indicators

The Hourly MACD is gaining strength in the bullish zone, confirming positive momentum[4].
The Relative Strength Index (RSI) is above 50, signaling a robust bullish trend but warning traders to watch for potential overbought conditions[4][5].

On-Chain Metrics and Investor Sentiment

On-chain data suggests low resistance around the $100,000 level and beyond, as observed from the investor cost basis distribution, which can support price stability and upward movement[3].
Positive market sentiment is being driven by easing geopolitical tensions, a US-UK trade agreement, and expectations of further global trade deals (e.g., with China) underpinning a bullish macro environment[2][5].
Robust institutional flows and strong inflows into Bitcoin ETFs have supported the move beyond $100,000[1][2].
The current bullish trend in Bitcoin (BTC) has pushed the price beyond the $100K barrier, reaching around $103K, according to the daily Technical Analysis.
As investors continue to pour into the crypto market, the ongoing technical analysis suggests potential short-term pullbacks, such as retesting the $100K or $98K support zones.
Investor cost basis and institutional flows are key factors reinforcing the structural strength behind Bitcoin's journey, as evidenced by robust institutional flows and strong inflows into Bitcoin ETFs.
On-chain data suggests low resistance around the $100,000 level and beyond, providing support for the price stability and continued upward movement of Bitcoin.
A few significant resistance levels to watch include the $103,500 - $105,000 zone, the $107,000 - $120,000 zone in the medium term, and key moving averages like the 100-day and 200-day averages.
Technical indicators like the Hourly MACD and the Relative Strength Index (RSI) confirm positive momentum, and yet caution traders to be aware of potential overbought conditions and short-term pullbacks as Bitcoin's price continues to surge in the finance and technology-driven investing landscape.

Is the current price surge of Bitcoin pushing it towards a new All-Time High (ATH) beyond $100K, according to the latest price analysis?