Bitcoin is currently trading above $104,000 after a huge price jump last week. Even though it’s seen some sideways movement recently, some analysts think the climb isn’t over yet.
Key Resistance Levels
Crypto analyst Burak Kesmeci used something called the “Bitcoin Gold Ratio Multiplier” to predict Bitcoin’s next moves. This tool compares Bitcoin’s price to the price of gold to gauge market sentiment and momentum. According to Kesmeci, this multiplier points to $111,000 as the next major resistance level. He expects a pullback as Bitcoin approaches this price, but strong buying pressure could push it higher.
Beyond $111,000: The Bigger Picture
Kesmeci’s analysis also reveals a longer-term resistance level at $139,000. He suggests that breaking through this level could trigger a massive price surge.
Current Bitcoin Price and Future Outlook
Right now, Bitcoin is trading around $104,887, but daily trading volume has dropped significantly. Despite this, many are optimistic about Bitcoin’s future, especially with the 2025 bull cycle approaching and the potential for pro-crypto policies in the US. Analysts are predicting prices ranging from $145,000 to a whopping $350,000!
