Bitcoin worth hit a brand new all-time excessive and knowledge exhibits BTC bulls aren’t performed but

Key takeaways:

• Bitcoin’s $109,458 all-time excessive aligns with seven consecutive inexperienced weekly candles since April, highlighting the power of the present bullish momentum.

• Analysts count on BTC to achieve between $135,000 to $320,000 in 2025.

• BTC heatmaps present high-leverage zones which will set off liquidations. Thus, threat administration stays essential.

Bitcoin (BTC) hit a brand new all-time excessive of $109,458 on Binance on May 21, marking seven consecutive inexperienced weekly candles in a row for the reason that worth bounced from its swing low of $74,500. 

If Bitcoin closes the present weekly candle above $106,500 on May 25, it’ll mark its longest streak of consecutive inexperienced weekly closes since October 2023.

Alongside a brand new all-time excessive, Bitcoin’s market cap and realized cap additionally achieved new highs of $2.17 trillion and $911.5 billion, as noted by Glassnode.

Related: Is Bitcoin worth near a cycle high? — 5 indicators that assist merchants resolve

Bitcoin bulls goal greater costs above $110K

With bullish momentum on BTC’s facet, crypto dealer Titan of Crypto noted {that a} Bitcoin worth goal for $135,000 stays in “play” for 2025. Tracking its returns with respect to key excessive timeframe resistance and help ranges over the previous two years, the forecast makes use of the Fibonacci extension instrument, which identifies worth targets by measuring earlier worth swings. 

On the chart, the 1.618 Fibonacci degree, drawn to a swing excessive from a swing low, aligns at $135,000–$140,000, figuring out a possible goal.

Veteran dealer Peter Brandt acknowledged BTC’s new excessive however identified that such milestones are “not technically significant” throughout bull markets. The dealer mentioned, 

“Bull markets make ATHs all the time. It is the definition of a bull market. On track maybe for top of $125,000 to $150,000 by end of August????”

In comparability, technical analyst Gert van Lagen set a much higher worth degree between $300,000 and $320,000. In a latest X submit, Gert van Lagen pointed to Bitcoin’s breakout from a 4-year bullish Megaphone Pattern, marked by diverging trendlines with greater highs and decrease lows, signaling a possible sharp uptrend after breaking the higher resistance.

Using Elliott Wave Theory, the analyst famous that BTC is within the remaining Wave 5 of an impulse cycle, supporting the bullish case for an additional 170% to 190% Bitcoin rally.

While the markets edge towards euphoria, Alphractal CEO João Wedson recommended warning and persistence for traders. The analyst famous that BTC heatmaps reveal worth motion towards high-leverage zones, suggesting market makers could goal overconfident merchants for liquidations. 

Wedson emphasised that public obsession over new all-time highs may create traps for each bulls and bears. Thus, it’s crucial to “always manage your risk.” 

Related: Bitcoin enters ‘acceleration phase’ resembling BTC worth positive factors seen after Trump election victory

This article doesn’t comprise funding recommendation or suggestions. Every funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.