The world's leading cryptocurrency #Bitcoin has been experiencing a period of consolidation where its price has remained below $72,000 for the last 100 days. This prolonged phase of stability is often viewed as a period of market pressure. Additionally, when an important resistance level is broken, this can result in a large price movement. According to analyst Jelle, Bitcoin is preparing for a big rise and the next rise may be just around the corner.

Consolidation Phase for Bitcoin

During consolidation phases, an asset's price typically fluctuates within a narrow range as it builds momentum for its next big move. In the case of Bitcoin, $72,000 served as a critical resistance level. Once Bitcoin crosses this threshold, it is likely to trigger a significant increase in purchasing activity and push the price to new highs. Jelle suggested that this breakout would be unstoppable and lead to a significant increase in the value of Bitcoin.

The concept of creating pressure in the market is similar to compressing a spring. The longer the consolidation period, the greater the potential energy stored in the market. When this energy is finally released, it can cause a strong and rapid price movement. Breaking the $72,000 barrier for Bitcoin could release this pent-up energy, sending the price sharply higher.

When Bitcoin Exceeds $72,000

According to Jelle's analysis, once Bitcoin surpasses the $72,000 level, it could quickly rise to a new target range of $93,000 to $97,000. This target is based on historical price patterns and the market's behavior during previous consolidation and breakout phases. The expected increase represents a significant gain from current levels and marks a new all-time high for the cryptocurrency.

Investors are watching Bitcoin's price movements closely, looking for signs of a breakout. Since the cryptocurrency market is famous for its volatility, large price movements can occur quickly. As Bitcoin approaches the $72,000 level, the expectation and excitement in the market also shows itself.

100 Days of Calm

Although this calmness that has been going on for the last 100 days has been disappointing for many investors, it can be considered as the silence before a big move. Bitcoin's large price movements after such long-term consolidation periods have offered high returns to investors in the past.

Therefore, if Bitcoin breaks the $72,000 level, history may repeat itself and the market may witness a new bullish wave. If analyst Jelle's predictions come true, there may be a great movement in the cryptocurrency markets in the coming weeks.