Bitcoin (BTC) is entering a technical standoff with thresholds above the $93,000 level, with market structure suggesting that the latest influx of liquidity could precede a parabolic rally to $155,000.
Blockchain analytics confirm that this cycle has attracted more capital than all previous crypto bull markets combined.
The chart by female analyst TARA shows persistent tension near $91,2, the 0,236 Fibonacci resistance level. She believes that unless the price holds above this level, a drop to $83,6–$83,3 is likely. At the time of writing, BTC was trading around $93,000.
According to the analyst, the $91,2 price level is very important and represents an area that BTC barely held during the previous pullback.
The TARA wave count indicates an initial price rise to resistance at 0,5 and an extension at 1,618 in the $103 region. From there, it expects a shallow pullback in Wave 4, followed by an extension of Wave 5 to $110.
She estimates that this five-wave structure will continue to develop until December and will eventually lead to the completion of macrowave 1, which could lift Bitcoin up to $ 155,6 thousand
The relative strength index (RSI) remains weak as investors await confirmation of the bullish trend. Spot trading volumes currently range from $8 billion to $22 billion per day, confirming the increased liquidity.
According to various analysts, December could be the month of the breakthrough to a new historical high, which investors are so eagerly awaiting.