📊 Market Summary and Reaction
Bitcoin has seen a slight decline of about 1.6% over 24 hours, currently trading around $107,736–$109,663.
We sought to break resistance near $110,400–$110,600, and a reaction is expected at $112,000 as a key resistance level.
🧠 Short-Term Analyses
The Traders Union site indicates today's range between $104,000–$108,000, with a short-term 'buy' recommendation based on technical indicators.
FXEmpire considers bitcoin still in an upward trend, and likely to successfully break the current resistance.
According to CoinPedia, the price may move today within the frame of $104,232–$105,579 before potentially making a jump later.
🔭 Medium and Long-Term Forecasts
Institutional forecasts from firms like VanEck, Fundstrat, and Standard Chartered range for 2025 between $180,000–$250,000.
Experts like ARK (Cathie Wood) and Tom Lee target higher levels: the former sees bitcoin potentially reaching $1.5 million in 5 years, while the latter forecasts $150,000 by the end of the year, and possibly $3 million in the long term.
Binance platform sets an average forecast at $115,146 by the end of 2026.
📝 Today's Summary:
Current Trading
~$107,700–109,700
Nearby Technical Support
~$107,000–100,000
Short-Term Resistance
~$110,400–112,000
Today's Forecast Range
$104,000–$108,000
A strong mid-term triangle suggests a rise toward $180–$250k by the end of 2025.
✅ Practical Tips
For day traders: it is preferable to monitor the range of 104–108 thousand and buy near support with appropriate stop-loss.
For civilians/investors: focus on the overall upward trend, taking risks into account (such as platform regulatory volatility or interest rate policies).
⚠️ Important
All forecasts depend on economic developments such as inflation, Federal Reserve decisions, the activation of more institutional ETFs, and regulatory environments.
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Watch These Bitcoin Price Levels as Cryptocurrency Back Near Record High
Bitcoin has hovered just below its record high in recent days as economic data has been encouraging and investor risk appetite has remained strong.
The cryptocurrency’s price staged a decisive breakout above a flag pattern earlier this week, laying the groundwork for a new move higher.
Investors should watch key overhead areas on Bitcoin's chart around $112,000 and $137,000, while also monitoring important support levels near $107,000 and $100,000.
Bitcoin (BTCUSD) has rallied over the past week to approach the record high it set last month, tracking the strong performance of U.S. equities and encouraging signals about the U.S. economy.
The legacy cryptocurrency moved as high as $110,400 Wednesday morning after a closely watched inflation report showed that consumer prices rose less than expected last month, good news for investors who are hoping the Federal Reserve could be in a position to cut its benchmark interest rate this year. The price of bitcoin dropped to $108,800 recently, as U.S. stocks backed off their earlier highs as well.
Once a fringe financial asset dismissed by the mainstream, cryptocurrencies have gained new legitimacy this year thanks in part to the support of President Donald Trump and several allies in Congress. The price of bitcoin has also been supported by surging demand from publicly traded companies, such as Strategy (MSTR), that use proceeds from equity sales to purchase bitcoin for corporate treasuries. Meanwhile, total assets in bitcoin exchange traded funds have ballooned to $132 billion this month, up from $91 billion in early April, pointing to growing institutional interest in the cryptocurrency.
Bitcoin last hit a record high, of just under $112,000, on May 22. The digital currency has gained about 16% since the start of the year, far outpacing the performance of major stock indexes.
Below, we take a closer look at Bitcoin’s chart and apply technical analysis to identify key price levels worth watching out for.
Flag Pattern Breakout
After hitting its all-time high last month, bitcoin’s price consolidated within a flag, a chart pattern that indicates a continuation of the cryptocurrency's uptrend that started in early April.
Indeed, the digital asset staged a decisive breakout above the pattern earlier this week, laying the groundwork for a new move higher. Meanwhile, the relative strength index confirms bullish price momentum, though the indicator remains below overbought levels, providing ample room for further upside.
In another win for bitcoin bulls, the 50-day moving average (MA) crossed above the 200-day MA last month to form a bullish golden cross signal.
Let’s identify two key overhead areas to watch amid the potential for further buying and also locate support levels worth monitoring during profit-taking periods.
Key Overhead Areas to Watch
The first overhead area to watch sits around $112,000. This area on the chart will likely attract significant scrutiny near last month’s peak.
A move higher could see bitcoin rally toward $137,000. We projected this target by extracting the price bars comprising the cryptocurrency’s uptrend that preceded the flag and repositioning them from the pattern’s breakout area.
We selected this prior trend as it commenced following a breakout from a pennant pattern in late April, providing clues as to how the current breakout from a period of consolidation may unfold.
Important Support Levels Worth Monitoring
During profit-taking, investors should initially monitor the $107,000 level. A retest of the prominent December and January peaks may be necessary before the cryptocurrency makes a meaningful move higher.
Finally, a deeper retracement could see bitcoin’s price revisit the closely-watched $100,000 level. This area would likely provide support near the psychological round number and a trendline that connects a range of corresponding trading activity on the chart stretching back to last November.
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