Bitcoin (BTC) is aiming for its highest price ever—keep an eye on these 3 key levels first.

Bitcoin (BTC) is expected to potentially hit a new record price, but it needs to surpass three key resistance levels first. Analysts suggest that once it breaks through the last major psychological threshold, Bitcoin could soar to $250k by the end of the current cycle. Recently, Bitcoin bounced back from its daily low of $133k, gaining 10% on its weekly price chart and currently trading at $103k. Our market data indicates that the asset is poised for a rise, with its daily trading volume increasing by 6% to reach $240 billion. Before the upcoming surge, analysts have pointed out three key levels that Bitcoin needs to surpass in order to achieve a new all-time high. The first of these is known as the Initial barrier. Analysts indicate that the $2100,2000 range marks the “previous local peaks” or the initial resistance level for the ongoing rally. If the price surpasses this threshold, it may lead to heightened buying activity. Additionally, another key level to watch is the $240,2400 point. Experts indicate that this signifies the prolonged Fibonacci retracement objectives. At this stage, many investors might feel inclined to secure their profits, which could result in a potential decline. Interestingly, if the price successfully surpasses this level, it would also set it up to challenge another key psychological threshold situated at $2000,3903. At this point, the asset needs to confront the ultimate resistance point at $2390k. Insights from Bitcoin’s price movements and expert analyses.