Bitcoin Primed for New All-Time High if BTC Breaks Above This Resistance Level, Says Crypto Trader

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Daily Hodl2025/04/30 16:00

By:by Daily Hodl Staff

A widely followed crypto analyst says that Bitcoin ( BTC ) could skyrocket to a new all-time high if it can shoot above a key resistance level.

In a new strategy session, crypto trader Ali Martinez tells his 136,500 followers on the social media platform X that the top crypto asset by market cap can break above $97,530, which could mean it’s on its way to a new all-time high price tag.

“The key resistance level to watch for Bitcoin is $97,530. A breakout above it could open the door to new all-time highs.”

Bitcoin Primed for New All-Time High if BTC Breaks Above This Resistance Level, Says Crypto Trader image 0

Source: Ali Martinez/X

According to Martinez, based on the MVRV (market value to realized value) metric – which gauges the market’s sentiment and valuation of a crypto asset – the flagship digital asset’s next stop would be $114,230 if it were to break $97,530, a new all-time best for BTC.

The trader goes on to say that historically, when BTC’s MVRV crosses above its one-year simple moving average (SMA), it means that BTC is gearing up to make a move to the upside.

“BTC momentum could shift bullish once the MVRV crosses above its one-year SMA. A golden cross that historically signals strong upside potential.”

Bitcoin Primed for New All-Time High if BTC Breaks Above This Resistance Level, Says Crypto Trader image 2

Source: Ali Martinez/X

However, Martinez warns that Bitcoin could instead dip and go the other way, telling traders to keep an eye on key support levels of $93,198 and $83,443 if the asset’s momentum shifts.

Bitcoin is trading for $97,031 at time of writing, a 3.3% increase during the last 24 hours.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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