Bitcoin Hits $98K as $75K Support Signals a Path to $150K 

• Bitcoin is gaining momentum, and $75K is now a  support level, boosting its bullish trend.  
• A breakout above $100K could push Bitcoin to a new all-time high of $150K as faith grows.  
• Traders are watching $75K closely since it could decide the token’s next move in its upward journey.  

BTC is trading at an astounding $98,000 as of January 5, 2025, showcasing an impressive 4.75% surge in daily performance. Investor optimism is palpable, with bullish sentiment driving traders and investors to anticipate a historic breakout. Crypto Patel’s analysis on TradingView highlights critical levels and potential trajectories that could shape Bitcoin’s journey toward an all-time high .  

The chart underscores the importance of $75,000—a level that has flipped from a stubborn resistance into a strong support. This crucial zone now acts as a safety net for Bitcoin’s price action. According to Patel’s technical outlook, Bitcoin must maintain its position above $75,000 to preserve its upward momentum. 

If this support holds firm, breaking through the $100,000 psychological threshold appears imminent. Patel even projects a possible ATH of $150,000 if these conditions align.  

$75,000: A Line in the Sand 

At the core of this bullish outlook is the transformation of $75,000 from resistance to support—a textbook example of market dynamics. Bitcoin’s recent ascent from $91,530 to $98,000 reinforces this pivotal level’s strength. Any dip below $75,000 could reignite bearish sentiment, but for now, this floor remains the launchpad for BTC’s potential next leg upward.  

The trendline on Patel’s chart illustrates Bitcoin’s steady climb since 2018, culminating in the current breakout. The $75,000 support zone aligns with this long-term ascending trendline, further validating its significance. Historical data suggests that when Bitcoin consolidates at such levels, explosive moves often follow.  

$100,000: The Gateway to New Highs 

A breakthrough past $100,000 is not just a milestone—it’s a gateway. The study predicts that crossing this threshold could unlock Bitcoin’s path to $150,000, a price target supported by market momentum and increasing business enthusiasm. The upward trajectory depicted on the chart shows a potential retest of $100,000 before BTC resumes its bullish climb.  

Interestingly, Patel’s chart highlights a “resistance becomes support” pattern that has repeatedly driven Bitcoin’s rallies in the past. This fractal-like behavior strengthens the case for a sustained move higher. While short-term volatility is always a possibility, the macrotrend remains decisively bullish.  

What to Watch: Risks and Advantages  

The market’s focus is now on the $75K support and $100,000 resistance. If Bitcoin sustains its position above $75,000, confidence will likely build, pushing prices toward $100,000. Conversely, losing this key support could trigger a broader sell-off, testing lower levels of the ascending trendline.  

The analysis doesn’t just paint a rosy picture—it offers a pragmatic view of Bitcoin’s trajectory. The target of $150,000 hinges on Bitcoin’s ability to navigate these  levels with precision. While the market is clearly bullish, Patel emphasizes the need for caution, urging traders to monitor support and resistance zones closely.