Bitcoin’s Déjà Vu Moment: Is a $104K Breakout Imminent?
History doesn’t repeat, but it sure rhymes—and Bitcoin’s chart is reciting verse. The king of crypto is flirting with a classic breakout pattern last seen before its 2021 bull run. If the playbook holds, six figures could be next.
Technical déjà vu: Analysts spot eerie parallels between Bitcoin’s current consolidation and the 2020 Wyckoff accumulation phase that preceded its last parabolic rally. The same coiled-spring energy now suggests a potential surge beyond $104K—assuming Wall Street’s ‘risk-on’ switch stays flipped.
Wildcard factor: This time, the macro backdrop includes spot ETFs, institutional custody solutions, and a Fed that’s still pretending inflation is ‘transitory.’ Because nothing says ‘sound monetary policy’ like reverse-repo facilities hitting $2 trillion while Main Street burns.
Make or break: Watch the monthly close. A clean break above the current range high at $72K would confirm the pattern—while failure here could trap BTC in no-man’s land until the next halving narrative kicks in. Either way, buckle up: volatility never takes PTO.
From $93,500 To $104,500 – Critical Levels To Watch In 2025
In a recent post on X, Rekt Capital shares an intriguing price prediction on the BTC market following recent price gains. The market expert explains that Bitcoin’s price rally in late April allowed the asset to recover from its downside deviation and return to a bullish trading range.
Following this development, the premier cryptocurrency is now facing a black lower high resistance at the $99,000 price region. Interestingly, BTC experienced a similar situation in mid-October 2024, resulting in an 80% price rally.
As historical data are strong factors in price prediction, Rekt Capital states that for Bitcoin to repeat the price surge seen in Q4 2024 from this similar position, the asset will experience a price rejection at $99,000, which is expected to force prices as low as $93,500. The analyst explains that Bitcoin bulls must hold price movement at this support level before launching another price rally to break through the $97,000 – $99,000 region.
Thereafter, BTC could likely face another rejection at $104,500 and return to find support around $97,000 – $99,000. After forming an ascending price channel, Rekt Capital then predicts Bitcoin to launch a price surge from this support level, moving past $109,000 to establish a new all-time high.
BTC Price Overview
At the time of writing, Bitcoin trades at $96,500 following a price loss of 0.25% in the last 24 hours. However, Bitcoin has now entered comfortable bullish territory with gains of 1.84% and 15.55% in the last seven and thirty days, respectively.
This development is confirmed by other factors, including the Bitcoin Bull Index Score, which is now at 80 – the highest it has ever been since January 30. According to Rekt Capital’s analysis, the immediate price resistances for the premier cryptocurrency lie at $99,000 and $104,500, with the most critical support set at $93,500.
However, barring any negative macroeconomic developments, Bitcoin looks poised to complete its price recovery and launch into new price territory.
