Key factors:
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Bitcoin tags $108,000 for the primary time for the reason that day of its present all-time highs in January.
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Merchants and analysts point out assist extending towards $90,000, however the likelihood of a retest is fading.
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Close to-term upside targets embody a “blow-off prime” at $128,000.
Bitcoin (BTC) spiked to greater than $108,000 on Might 21, marking new four-month highs — the place will BTC/USD go subsequent?
Crypto merchants and analysts are lining up their forecasts with BTC worth motion lower than 1.5% away from new all-time highs.
BTC worth assist take a look at now “much less possible”
Bitcoin continues to coil under what’s now its most important psychological resistance barrier — January’s all-time highs.
At $109,356 on Bitstamp, per knowledge from Cointelegraph Markets Professional and TradingView, that seminal line within the sand is what bulls are trying to deliver again into play this week.
Volatility is choosing up — BTC/USD dropped nearly $1,000 in minutes following its transfer previous $108,000, with merchants trying to place across the spot worth.
GM 🥂$BTC shorted. pic.twitter.com/nVfYKuNhu1
— BrutalBTC (@BrutalBtc) Might 21, 2025
Order ebook liquidity knowledge from monitoring useful resource CoinGlass confirmed thickening bid assist just under $106,000 on the time of writing.
Commenting, Keith Alan, co-founder of buying and selling useful resource Materials Indicators, highlighted a number of transferring averages (MAs), the $100,000 mark, and the 2025 yearly open as potential long-term assist retest zones.
The best of those, the 21-day MA, stood at $101,640 on the day.
“The 50-Day MA is on a trajectory to Golden Cross with the 200-Day MA in a good vary that has confluence with the Development Line AND the 2025 YO,” he wrote in a part of his newest put up on X.
“You possibly can’t actually ask for stronger technical assist than that.”
Alan argued {that a} deeper retracement to assist would strengthen Bitcoin’s total restoration and assist increase the percentages of holding increased ranges going ahead.
“I’d personally contemplate a dump to that degree a present, however at this level I don’t suppose it’s a possible one. In truth the additional the 21-Day MA (inexperienced) will get from $100k, the much less possible we’re to get the assist take a look at I’ve been in search of,” he concluded.
“Whether or not BTC retests $100k or not, I’m glad to see consolidation on this vary earlier than the following leg up.”
Merchants anticipate Bitcoin to go towards $128,000 subsequent
Crypto dealer, analyst and entrepreneur Michaël van de Poppe held comparable views on assist ranges to carry.
Associated: Sorry bears — Bitcoin evaluation dismisses $107K BTC worth double prime
Each $91,800 and $100,700 function in his newest evaluation, with the latter described as a “focal point.”
“It is at all times an excellent morning with Bitcoin at $108,000 and near a brand new ATH,” he summarized on the day.
In a separate X put up, Van de Poppe mentioned that new all-time highs had been approaching “quicker than he anticipated.”
$120,000, he argued, was one in every of a number of “imminent” targets extending as much as $200,000.
Elsewhere, common dealer Merlijn agreed with $116,000 as the following short-term BTC worth goal, seeing BTC/USD “exploding” out of a consolidation pennant.
MASSIVE BULLISH BITCOIN PENNANT BREAKOUT!$BTC coiled for days now it’s exploding.
This pennant factors to $116K… and it’s simply getting began.
Journey the wave or watch it fly. pic.twitter.com/lyox33TJp4
— Merlijn The Dealer (@MerlijnTrader) Might 21, 2025
Fellow dealer Henry in the meantime upped the goal to $128,000 as a “blow-off prime” whereas additionally figuring out assist areas at $105,000 and $96,000.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.
