key takeaways:
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Bitcoin increased by 14% from May 5, breaking $ 108,000 for the first time since January.
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A target of $ 140,000 and even $ 200,000 for 2025 is also rapidly discussed.
The price of Bitcoin (BTC) has increased by more than 14% from May 5, rallies up to $ 107,000 on 21 May.
Data Pro from cointelegraph markets and Tradingview The price of bitcoin shows that the price of $ 108,000 increased to 3.6% at a four -month high of $ 108,000 on 21 May from a low of $ 104,200.
Last time BTC/USD was traded above this level, when the inauguration of President Donald Trump made the BTC price rally to $ 109,350 all-time higher.
The price hike of bitcoin coincides with a market rally, in which global crypto market capitalization is growing above $ 3.36 trillion for the first time since 3 February.
Uptrend has surprised the market participants how much bitcoin prices can go before a significant improvement.
Bitcoin price inch towards new high
The latest recovery of bitcoin has provoked optimism among market analysts and traders, who expect the BTC explode towards the new all-time high.
Bitcoin is going for all time today, Said Popular analyst alphabetk on X on 21 May.
Simultaneous charts simultaneously showed the value trade of bitcoin within an extended ascending parallel channel after starting its recovery on 9 April.
As of May 21, the BTC price was trading 2.5% below its all -time high of more than $ 109,000, which was the next major resistance. If this barrier is broken, Alphabtc estimates $ 115,000 as the next possible target.
“It seems unavoidable that the $ BTC takes out the Ath out soon, it is being operated by the grinding and pop (squeezed) price action by large players, who have their own goals and know what to do to shorten the beers to make every pop to increase prices.”
“Bitcoin is going to a higher level than my expectation,” Said MN Capital founder Michael Van de Pope in post on 20 May.
According to van de Pope, the BTC value can increase as $ 200,000 “because more and more people are made with continuous devaluation of the dollar.”
Partner analyst mag Said The price was entering its “biggest bull run”, anticipating a potential top of around $ 215,000 based on the half cycle of four years of bitcoin.
Meanwhile, network economist Timothy Peterson used statistical analysis to travel at least $ 115,000 by the end of June, setting a potential top under $ 130,000.
Connected: Bitcoin ‘Blow-Off Top’ sight with new all-time high in set on $ 128k
BTC round lower pattern target $ 140k
From a technical point of view, the price of bitcoin has created a round lower chart pattern on the daily chart (see below). Bulls are now focused on furthering the price above the neckline of the chart pattern prevalent at $ 106,000.
A daily candlestick goal above this level will confirm a rapid breakout from the formation of a bottom, BTC will enter the price search with a technical target set at $ 140,956, or an increase of 37% from the current level.
The relative power index, or RSI, is at 69, suggesting that there is still space to walk, especially with a adjacent golden cross.
As the cointelegraph reported, by the end of this week, one step of all the new level of all time above $ 110,000 is possible, supported by BTC accumulation in all holders Kohorts.
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
