{"id":676047,"date":"2025-01-15T16:00:30","date_gmt":"2025-01-15T16:00:30","guid":{"rendered":"https:\/\/wncen.com\/?p=676047"},"modified":"2025-01-15T10:51:56","modified_gmt":"2025-01-15T10:51:56","slug":"bitcoin-price-break-100000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-break-100000\/","title":{"rendered":"Pundit Says Bitcoin Price Will Break Above $100,000 If This Happens"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Technical analysis of the Bitcoin price chart shows that the leading cryptocurrency is still on the way to breaking above $100,000 in light of a pattern formation on the Bitcoin price chart. Notably, an analyst has pointed to a wedge pattern forming on Bitcoin\u2019s 4-hour candlestick timeframe chart as the precursor to this bullish upside move, while dismissing earlier projections of bearish momentum arising from a <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-to-89000\/\"><span style=\"font-weight: 400\">head-and-shoulders pattern<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>The Wedge Formation: A Breakout To $100,000?<\/h2>\n<p><span style=\"font-weight: 400\">According <\/span><a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSDT\/FJDDSgxR-BTC-can-Reach-above-100k-If-It-Manages-to-Break-this\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">to the analysis<\/span><\/a><span style=\"font-weight: 400\">, which was posted on the TradingView platform, Bitcoin is currently trading within a falling wedge pattern, which is often seen as a bullish chart pattern in technical analysis. This <\/span><a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-falling-wedge-pattern\/\"><span style=\"font-weight: 400\">falling wedge analysis<\/span><\/a><span style=\"font-weight: 400\"> outlook arose after the invalidation of a head-and-shoulder pattern that recently <\/span><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-faces-challenges-98k\/\"><span style=\"font-weight: 400\">threatened to bring a bearish outlook<\/span><\/a><span style=\"font-weight: 400\"> to Bitcoin\u2018s short-term price action.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-to-89000\/\">Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next<\/a><\/div>\n<p><span style=\"font-weight: 400\">The crypto analyst dismissed prior concerns over this head-and-shoulders pattern, labeling it as &#8220;fake&#8221; and has instead <\/span><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-hints-rebound-95k\/\"><span style=\"font-weight: 400\">reinforced a bullish outlook for Bitcoin.<\/span><\/a><span style=\"font-weight: 400\"> This head-and-shoulders pattern had threatened to send <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/funding-rates-drop-is-bitcoin-heading-for-a-90k-correction\/\"><span style=\"font-weight: 400\">Bitcoin below the $90,000 mark <\/span><\/a><span style=\"font-weight: 400\">and essentially invalidate a bullish outlook for the leading cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of now, there is a confirmation of a falling wedge pattern on the Bitcoin price chart. This falling wedge pattern has been in formation since December 17, when Bitcoin reached an all-time high of $108,135. Furthermore, this falling wedge has been highlighted by the formation of lower highs and lower lows, all of which are characteristic of the bullish pattern formation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, recent price action in the past 24 hours has seen Bitcoin inching closer to the upper trendline of the falling wedge. With this formation now confirmed, the only thing left is for a substantial break above the upper trendline, which would send Bitcoin trading above $100,000.<\/span><\/p>\n<h2>Bitcoin Price Now<\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin&#8217;s price movement over the past 24 hours has exhibited another minor bullish trend after a rebound from the $90,800 support level on January 13. This upward bounce comes after Bitcoin faced mounting pressure over the weekend and briefly threatened to dip below $90,000. Instead, the rebound has pushed Bitcoin\u2019s price upward by 6.8% over the past 48 hours.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/pepe\/pepe-marks-bottom-500\/\">PEPE Marks Bottom After Scary Market Crash, Enters Wave 3 With Over 500% Promise<\/a><\/div>\n<p><span style=\"font-weight: 400\">As of now, Bitcoin is trading at $97,000, edging closer to reclaiming its bullish momentum. The cryptocurrency is <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-drawdown-analysis-metrics-suggest-price-consolidation-can-continue\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">just 3% shy <\/span><\/a><span style=\"font-weight: 400\">of breaking above the upper trendline of the falling wedge pattern and registering what could be the end of the recent price correction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, current trends in buying activity reveal a notable slowdown in investor participation, and it might reach towards the end of January and the beginning of February before the action of renewed interest begins.<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/1YWr8pgC\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC bulls on the move for $100,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Technical analysis of the Bitcoin price chart shows that the leading cryptocurrency is still on the way to breaking above $100,000 in light of a pattern formation on the Bitcoin price chart. Notably, an analyst has pointed to a wedge pattern forming on Bitcoin\u2019s 4-hour candlestick timeframe chart as the precursor to this bullish upside move, while dismissing earlier projections of bearish momentum arising from a head-and-shoulders pattern. The Wedge Formation: A Breakout To $100,000? According to the analysis, which was posted on the TradingView platform, Bitcoin is currently trading within a falling wedge pattern, which is often seen as a bullish chart pattern in technical analysis. This falling wedge analysis outlook arose after the invalidation of a head-and-shoulder pattern that recently threatened to bring a bearish outlook to Bitcoin\u2018s short-term price action. Related Reading: Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next The crypto analyst dismissed prior concerns over this head-and-shoulders pattern, labeling it as &#8220;fake&#8221; and has instead reinforced a bullish outlook for Bitcoin. This head-and-shoulders pattern had threatened to send Bitcoin below the $90,000 mark and essentially invalidate a bullish outlook for the leading cryptocurrency. As of now, there is a confirmation of a falling wedge pattern on the Bitcoin price chart. This falling wedge pattern has been in formation since December 17, when Bitcoin reached an all-time high of $108,135. Furthermore, this falling wedge has been highlighted by the formation of lower highs and lower lows, all of which are characteristic of the bullish pattern formation.\u00a0 Interestingly, recent price action in the past 24 hours has seen Bitcoin inching closer to the upper trendline of the falling wedge. With this formation now confirmed, the only thing left is for a substantial break above the upper trendline, which would send Bitcoin trading above $100,000. Bitcoin Price Now Bitcoin&#8217;s price movement over the past 24 hours has exhibited another minor bullish trend after a rebound from the $90,800 support level on January 13. This upward bounce comes after Bitcoin faced mounting pressure over the weekend and briefly threatened to dip below $90,000. Instead, the rebound has pushed Bitcoin\u2019s price upward by 6.8% over the past 48 hours. Related Reading: PEPE Marks Bottom After Scary Market Crash, Enters Wave 3 With Over 500% Promise As of now, Bitcoin is trading at $97,000, edging closer to reclaiming its bullish momentum. The cryptocurrency is just 3% shy of breaking above the upper trendline of the falling wedge pattern and registering what could be the end of the recent price correction. However, current trends in buying activity reveal a notable slowdown in investor participation, and it might reach towards the end of January and the beginning of February before the action of renewed interest begins. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":666063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-676047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Pundit Says Bitcoin Price Will Break Above $100,000 If This Happens<\/title>\n<meta name=\"description\" content=\"Technical analysis of the Bitcoin price chart shows that the leading cryptocurrency is still on the way to breaking above 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