Bitcoin Holds $84,569 Support as $100,000 Level Comes Into Focus
Bitcoin rose 35% from $62,938 on Aug. 1 to a listed $85,265 on Sept. 23, with resistance identified near $100,670 and $104,765.
Bitcoin’s rally from $62,938 on Aug. 1 to a listed $85,265 on Sept. 23 has brought $100,000 back into focus, while support at $84,569 remains central to the technical setup.
Analyst Ali Martinez identified $84,569 as a key support level and approximately $104,765 as a major URPD resistance level based on URPD, a measure of the amount of Bitcoin previously traded across price ranges. Nearly 600,000 BTC traded around the support area, while roughly 283,000 BTC changed hands near $104,765.
Martinez wrote Sept. 22, “BITCOIN KEEPS SURGING. TARGET: $100,000.” He also wrote, “With support below, overhead resistance is thinning out.”
The $84,569 level is important because a sustained move above it would preserve the technical scenario described in the analysis. A break below that area would weaken the setup, while a move toward $100,000 could encounter potential resistance near $100,670 and $104,765.
The $100,670 level comes from a market-value-to-realized-value pricing band, another technical measure used to identify areas where Bitcoin may face resistance. It is an analytical level rather than a confirmed market outcome.
Martinez did not set a timetable for reaching $100,000, leaving the outlook conditional on Bitcoin holding support and maintaining demand.