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Bitcoin Price Analysis: Is New ATH Next for BTC After Surging Past $100K?

  • Bitcoin has surged past the $100K mark for the first time in months, indicating a shift in momentum favoring buyers.
  • Technical analysis shows BTC breaking through $100K resistance, with potential resistance at $108K and support at $99K.
  • On the 4-hour chart, a breakout from a rising wedge has occurred, with signs of short-term exhaustion suggesting a possible retest of $100K.
  • On-chain analysis reveals a plunge in exchange reserves, signaling accumulation behavior and reduced selling pressure, supporting the sustainability of the rally.

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