Bitcoin (BTC), the premier cryptocurrency globally, is once again at a pivotal moment. The $95,000 threshold has emerged as a crucial barrier that must be overcome for this leading digital asset to avoid hindering bulls from reclaiming the psychologically important six-figure territory.
Renowned crypto analyst Dave the Wave suggests that Bitcoin is currently navigating through a recovery phase, which could significantly influence the overall market cycle’s direction.
The next resistance level for #btc stands at 95K.
Remember, breaking through the $100,000 mark holds psychological weight. If it can surpass this point, momentum will shift dramatically. pic.twitter.com/4lLuasMgrY
— dave the wave🌊🌓 (@davthewave) January 4, 2026
In his update on Sunday, he emphasized that reaching $100,000 represents a critical obstacle for bullish traders to overcome.
The Journey to Six Figures
Currently priced around $91,360 with an increase of about 0.85% today, Bitcoin shows signs of potential reversal in its price trajectory. Nevertheless, it continues to undergo a prolonged correction following its peak near $127,000 on October 10.
Several important technical indicators are in play right now. Firstly, Bitcoin seems to have broken through a steep descending trendline (indicated by dotted white lines), which has previously restricted its price movements; this may suggest diminishing bearish pressure.
Additionally, charts reveal an emerging “higher low” pattern forming around the $80k level; this could serve as foundational support for current upward momentum despite prices remaining below long-term ascending logarithmic trendlines (marked in yellow).
Modest Probabilities
Meanwhile，data from Polymarket indicates there’s an 82% chance that Bitcoin will reach $100k within this year; however，the market does not seem prepared for an explosive “supercycle.” Currently，the likelihood of BTC hitting $120k sits at approximately 50%.