Crypto analyst Javon Marks has maintained that he sees Bitcoin surging 84% to a six-figure price point, citing a breakout from its range.
In today’s Bitcoin news, Marks noted that the largest cryptocurrency by market cap is gearing up for an 84% uptick from its current price of $63,500. The analyst stated that the premier crypto asset would break past key resistance at $67,556 before moving to the $116,600 target.
Analyst Maintains Bullish Stance on Bitcoin
Notably, Marks has been speculating an impeding Bitcoin surge to $116,600 for a while now. On September 22, the seasoned analyst asserted that Bitcoin seemed ready for the push to his price target.
Per analysis, Bitcoin did move from its price of around $64,000 but failed to break the crucial resistance at $67,556. The firstborn crypto asset peaked at $66,520 on September 27 before the recent price downturn to retest $60,000.
However, Bitcoin has shown resilience amid growing geopolitical tension, and Marks expects the asset to finally break the $67,556 resistance. It bears mentioning that the analyst didn’t give a timeline for this impending surge to materialize.
Meanwhile, Javon Marks based his call on a possible breakout from a price range that Bitcoin has formed since its peak at $73,949 in March. According to the chart accompanying his analysis, Bitcoin has been in a falling wedge price pattern, and he expects a breakout soon.
Bitcoin Analysis per Javon Marks
Notably, Marks cited a similar breakout last year, pushing Bitcoin to an all-time high in March. The price range looks synonymous with the latest pattern, and the market commentator expects a similar price action for Bitcoin when it finally breaks out.
Other Analysts Expect Similar Price Action
Interestingly, Marks is not the only market observer expecting Bitcoin to trade at six figures. Many other analysts have predicted that the premier asset would trade above $100,000 soon enough.
Analyst Mikybull expects Bitcoin to surge to the 1.618 and 2.272 Fibonacci extension levels, respectively pushing its price to $90,000 and $110,000. However, the seasoned analyst stated that Bitcoin would trade at those levels after completing the Elliot Wave price pattern.
Furthermore, an insight and commentary provider predicted that Bitcoin would trade at $106,713 by December. The analysis hinged on historical performances of the largest crypto asset when the month of September closes in profit.
Meanwhile, Bitcoin is up 2.3% in the past 24 hours, with its market trending at $1.25 trillion. The wider crypto market cap also saw a 2.49% uptick in the past day to $2.21 trillion.
