Bitcoin is in a consolidation phase, with bulls buying minor corrections while pushing BTC's average daily trading price higher . This movement suggests that investor sentiment remains positive, with every minor dip being seen as a buying opportunity .
Technical Analysis
Bitcoin is being squeezed between the 20-day exponential moving average (EMA) at $107,314 and the overhead resistance of $110,530 . The upsloping 20-day EMA and the relative strength index (RSI) in the positive zone signal that the break may happen to the upside . If the $110,530 resistance is scaled, the BTC/USDT pair could challenge the all-time high at $111,980 and later the neckline of the inverse head-and-shoulders pattern .
Sellers are expected to fiercely defend the neckline because a break above it will complete the bullish setup . That opens the doors for a potential rally toward the pattern target of $150,000 . This optimistic view will be invalidated in the near term if the price turns down and breaks below the 50-day simple moving average ($106,642) . That could tempt short-term buyers to book profits, pulling the pair to $104,500 and then to $100,000 .
Other Predictions
Various analysts and firms have predicted significant increases in Bitcoin's price . Standard Chartered maintains one of the most aggressive mainstream forecasts, with the bank's digital assets research team projecting Bitcoin could reach $200,000 by year-end 2025 . VanEck expects Bitcoin to potentially hit approximately $180,000 during a first-half rally in 2025 .
Furthermore, Fidelity Investments predicts that the value of a single Bitcoin could soar to $1 billion by 2038-2040 .
In conclusion, Bitcoin is at a critical juncture, with the tightening range suggesting a potential significant price movement. Investors and traders should closely monitor key levels and trading volumes to identify the direction of the next major trend.