{"id":1928,"date":"2024-12-22T05:11:07","date_gmt":"2024-12-22T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-above-100000-again-why-99800-is-an-important-resistance-to-break\/"},"modified":"2024-12-22T05:11:07","modified_gmt":"2024-12-22T05:11:07","slug":"bitcoin-price-above-100000-again-why-99800-is-an-important-resistance-to-break","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-above-100000-again-why-99800-is-an-important-resistance-to-break\/","title":{"rendered":"Bitcoin Price Above $100,000 Again? Why $99,800 Is An Important Resistance To Break"},"content":{"rendered":"<p>The Bitcoin price is approaching the $100,000 level again after propelling Bitcoin past the $100,000 mark.\u00a0<\/p>\n<h2><b>Bitcoin Price Faces Resistance At $99,800<\/b><\/h2>\n<p>Prominent crypto analyst Ali Martinez hasBitcoin price is facing extreme resistance between the $97,500 and $99,800 price levels as it tries to breach $100,000 again.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"aligncenter size-full wp-image-666199\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/a_53423f.png?resize=646%2C266\" alt=\"\" width=\"646\" height=\"266\" \/><\/p>\n<p>Martinez noted that around this price range, approximately 923,890 wallet addresses had purchased over 1.19 million BTC. This price zone acts as an important resistance level because many Bitcoin holders may look to sell and break even, potentially exerting selling pressure.<\/p>\n<p>In the IOMAP chart shared by Martinez, the green dots that signal \u2018In the Money\u2019 represent price levels below the current Bitcoin price, where wallet holders are in profit because they bought BTC at a lower value. On the other hand, the red dots that represent \u2018Out of the Money\u2019 show price levels of Bitcoin\u2019s present value, where wallet holders are at a loss because they bought BTC at a higher price.\u00a0<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.tradingview.com\/x\/5vrkfcPu\/\" alt=\"\" width=\"1839\" height=\"639\" \/><\/p>\n<p>Lastly, the white dot indicates \u2018At the Money\u2019 and represents the current price of Bitcoin at an average of $98,676, where some crypto wallets see neither profit nor loss.\u00a0<\/p>\n<p>Below Bitcoin\u2019s current price, the chart shows strong buying zones, which could provide strong support if the pioneer cryptocurrency experiences a bullish rally for Bitcoin, potentially leading it to a new all-time high.\u00a0<\/p>\n<p>Currently, the Bitcoin price is trading at $98,652, steadily rising to return to previous highs above $100,000. To a new all-time high, Bitcoin will have to surge by over 7%, surpassing its present ATH above $104,000.\u00a0<\/p>\n<h2><b>Bitcoin\u2019s Biggest Gains To Come After Christmas<\/b><\/h2>\n<p>A popular crypto analyst identified as the \u2018Crypto Rover\u2019 has significant gains right after Christmas during the halving years.\u00a0<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"aligncenter size-full wp-image-666200\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/a_c420b6.png?resize=625%2C338\" alt=\"\" width=\"625\" height=\"338\" \/><\/p>\n<p>The analyst shared a price chart showing Bitcoin\u2019s market performance during each halving cycle. In the 2012 halving year, Bitcoin started a significant price rally, which extended into the following year. The same bullish trend occurred in the next halving years in 2016 and 2020, with Bitcoin hitting exponential price highs.\u00a0<\/p>\n<p>Based on this historical trend, Crypto Rover projects that Bitcoin could witness a similar bullish surge before the end of 2024, with the rally potentially continuing into 2025.\u00a0\u00a0<\/p>\n<p><em>Featured image from Bloomberg Images, chart from TradingView <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price is approaching the $100,000 level again after propelling Bitcoin past the $100,000 mark.\u00a0 Bitcoin Price Faces Resistance At $99,800 Prominent crypto analyst Ali Martinez hasBitcoin price is facing extreme resistance between the $97,500 and $99,800 price levels as it tries to breach $100,000 again. Martinez noted that around this price range, approximately&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[65,111,73,70,19],"class_list":["post-1928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-news","tag-btc","tag-btcusd","tag-crypto"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1928"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1929"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}