Bitcoin (BTC) has surged past key resistance levels, now just 1.5% away from setting a new all-time high. Market analysts project an upward trajectory targeting $116,000, with potential to reach even higher valuations.
Key Insights
- Bitcoin (BTC) hit $108,000 for the first time since January's previous peak.
- Traders identify strong support between $90,000–$105,000, though retests appear unlikely.
- The next major price target is an "explosive top" at $128,000.
Market Momentum Builds
On May 21, BTC/USD soared past $108,000, marking a four-month high. Crypto traders and analysts are closely monitoring these developments:
_BTC/USD 1-day chart. Source: Cointelegraph/TradingView_- Liquidity heatmaps show concentrated buy orders near $106,000 (CoinGlass data).
- The 21-day moving average ($101,640) and 200-day MA form a "golden cross," signaling strong technical support (Keith Alan, Material Indicators).
- "Consolidation at current levels increases the probability of sustained higher prices," Alan noted.
Expert Price Targets
Michaël van de Poppe identifies $91,800 and $100,700 as critical support, emphasizing:
"With BTC stabilizing above $108K, each morning brings us closer to new highs."
BTC/USDT 12-hour chart with RSI. Source: Michaël van de Poppe/X
- Merlijn observes a "powerful breakout" from a consolidation triangle targeting $116,000 initially.
Henry raises the mid-term target to $128,000 as an "explosive peak," citing $105K and $96K as key support zones.
BTC/USD daily chart. Source: Henry/X
Why $128,000 Matters
This projection aligns with:
- Historical volatility patterns
- Institutional accumulation trends
- Reduced exchange liquidity (👉 Bitcoin supply shock dynamics)
FAQ: Bitcoin's Next Moves
Q: What could trigger a pullback?
A: While unlikely, a test of $100,700 support would strengthen the rally long-term.
Q: How high could BTC go in 2025?
A: Analysts suggest $120K–$200K is achievable if macroeconomic conditions remain favorable.
Q: Is this a good entry point?
A: Current consolidation offers strategic accumulation opportunities before the next leg up.
Strategic Considerations
For traders monitoring this rally:
- Watch the $108K–$110K resistance zone
- Track derivatives data (👉 BTC open interest analysis)
- Prepare for potential volatility around new ATH tests
All investments involve risk. Conduct independent research before decision-making.
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