Cryptocurrency analyst Javon Marks maintains his view that Bitcoin price surged 84% to six figures, calling it a range-breaking move.

In today’s Bitcoin news Marks noted that the largest cryptocurrency by market cap is poised to surge 84% from its current price of $63,500. The analyst stipulated that the primary crypto asset will break through the key resistance level of $67,556 before moving on to its target of $116,600.

Analysts remain bullish on Bitcoin

Notably, Marks has been speculating that Bitcoin will surge to $116,600 for some time. On September 22, the veteran analyst asserted that Bitcoin appears ready to push toward its price target.

According to the analysis, Bitcoin did rise from a price of about $64,000 but failed to break through the key resistance level of $67,556. On September 27, the first crypto asset peaked at $66,520 before the recent price drop, retesting $60,000.

However, Bitcoin has shown resilience amid growing geopolitical tensions, and Marks expects the asset to eventually break through the $67,556 resistance level. It is worth mentioning that the analyst did not give a timeline for this upcoming surge.

Meanwhile, Javon Marks based his prediction on the possibility that Bitcoin price could break out of the price range it has formed since reaching a peak of $73,949 in March. According to the chart he analyzed, Bitcoin has been in a falling wedge price pattern, which he expects to break out soon.

Bitcoin Analysis by Javon Marks

Notably, Marks cited a similar breakout last year that pushed Bitcoin to its all-time high in March. The price range appears synonymous with the latest pattern, with market commentators expecting similar price action when Bitcoin eventually breaks out.

Other analysts expect similar price action

Interestingly, Marks is not the only market observer who expects Bitcoin to trade in the six figures. Many other analysts predict that the premier asset will soon surpass $100,000.

Analyst Mickey Burr expects Bitcoin to surge to the 1.618 and 2.272 Fibonacci Extension levels, pushing its price to $90,000 and $110,000 respectively. However, the experienced analyst says Bitcoin will trade at these levels after completing the Elliott Wave price pattern.

Furthermore, the insight and commentary provider predicts that Bitcoin will trade at $106,713 by December. The analysis is based on the historical performance of the largest crypto asset when it comes to September earnings.

Meanwhile, Bitcoin has gained 2.3% over the past 24 hours, with its market trending at $1.25 trillion. The broader cryptocurrency market cap has also risen 2.49% over the past day to $2.21 trillion.