The Bitcoin price is rising! The latest recovery from the DeepSeek shock wave has instigated bullish momentum within the crypto space. The price has turned $100K into a strong support zone, indicating more room for the bulls to thrive. However, one last hurdle to overcome could lead the rally into the price discovery phase. Meanwhile, the liquidity is yet again piling up at the top once again, which could make the path towards a new ATH a pretty rough one.
Is Bitcoin (BTC) Price Primed for the Next Move to $110K?
The Bitcoin price has broken out of a massive bullish pattern and is expected to keep up the bullish momentum hereafter. After the current consolidation, the token appears to be ready for the next move, targeting levels above $120K. Amid the bullish continuation, the probability of a pullback after reaching fresh highs occurs as an immense amount of longs have piled up around the crucial resistance at $106.4K.
The data from Coinglass suggests that nearly $100 million in longs have been accumulated between $106K and $106.8K. Liquidity at the top hints towards whales preparing for a move as the bullish chart aligns at the moment. Presently, $107K levels look extremely promising, and a potential breakout suggests a further price rise.
Where Will the BTC Price Head Next?
As mentioned above, the price has broken out from a massive cup and handle pattern in the long term, and as a result, the price could remain elevated regardless of the mourning bearish pressure. The price appears to be midway through the outcome of the breakout, which suggests the BTC top could be somewhere around $125K.
The technicals are slowly turning bearish, like a couple of bearish crossovers can be expected with the MACD and Bull Market Support Band. Meanwhile, the RSI in the weekly timeframe has reached the upper threshold and a rise within the overbought range may squash the bearish possibility. If the price fails to do so, a drop below $100K could be imminent. Despite the bearish possibility, the price still remains under bullish influence and the upper target at $125 remains activated.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.
With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030.
As per our latest BTC price analysis, the Bitcoin could reach a maximum price of $5,148,828.
By 2050, a single BTC price could go as high as $12,436,545.
