Bitcoin (BTC) is currently experiencing notable volatility, but it has managed to maintain high levels ranging between $105,000 and $106,000, with the latest close around $105,710, up about $133 since the previous close.
Technically, CoinDesk's analysis indicated that the price of BTC rose from nearly touching $104,000 to a level above $106,300, recording a trading range between $105,043 and $106,101 over 24 hours. Supported by the formation of a 'higher low' on the chart, cryptocurrencies maintain positive momentum in the near term.
In contrast, forecasts from Financemagnates suggest the possibility of reaching $120,000 to $125,000 by June 2025, driven by market volatility and possibly Federal Reserve interventions if job or inflation data appear favorable. However, Cointelegraph analysts warn that failing to regain the 20-EMA level could bring BTC back to levels around $91,000 to $100,800.
The $105,800 to $106,100 level remains the current key resistance, while $105,400 forms a pivotal support that maintains the upward trend as previously reported.
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✍️ Today's Recommendation:
• If you are a short-term trader, watch for any clear break above $106,100 to $107,000, as it may indicate upward momentum.
• As for medium-term investors, they can expect rises up to $120,000 to $125,000 if economic conditions shift in favor of lower interest rates.
