Bitcoin’s Epic Rise: Will the Bulls Keep Charging or Just Take a Nap? 🐂💰

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Key takeaways:

  • In a world where fortunes are made and lost with the flick of a digital coin, Bitcoin has soared to a staggering $109,458, basking in the glow of seven consecutive green weekly candles since April. Truly, the strength of this bullish momentum is akin to a peasant’s stubborn resolve against the winter frost.

  • Analysts, those modern-day soothsayers, predict that BTC may reach heights between $135,000 and $320,000 by the year 2025. Ah, the sweet scent of speculation fills the air!

  • Yet, amidst this euphoria, BTC heatmaps reveal treacherous high-leverage zones that could lead to liquidations. Thus, dear reader, risk management is not merely a suggestion; it is a necessity, much like bread for the hungry.

On this fateful day, May 21, Bitcoin (BTC) has reached a new all-time high of $109,458 on Binance, marking a remarkable seven consecutive green weekly candles since it rebounded from a swing low of $74,500. A tale of resilience, indeed!

Should Bitcoin manage to close the current weekly candle above $106,500 by May 25, it will achieve its longest streak of consecutive green weekly closes since the autumn of 2023. A feat worthy of celebration, or perhaps a mere footnote in the annals of cryptocurrency history?

In tandem with this new high, Bitcoin’s market cap and realized cap have also reached unprecedented heights of $2.17 trillion and $911.5 billion, as noted by the oracle known as Glassnode.

Bitcoin bulls target higher prices above $110K

With bullish momentum firmly on BTC’s side, the crypto trader known as Titan of Crypto has declared that a price target of $135,000 remains “in play” for 2025. This forecast, much like a peasant’s dream of a bountiful harvest, is based on the Fibonacci extension tool, which measures previous price swings to divine future targets.

On the chart, the 1.618 Fibonacci level, drawn from a swing high to a swing low, aligns at $135,000–$140,000, revealing a potential target. A target that may be as elusive as a mirage in the desert!

Veteran trader Peter Brandt, with the wisdom of ages, acknowledged BTC’s new high but cautioned that such milestones are “not technically significant” during bull markets. He mused,

“Bull markets make ATHs all the time. It is the definition of a bull market. On track maybe for top of $125,000 to $150,000 by end of August????”

Ah, the irony of certainty in uncertainty!

In contrast, the technical analyst Gert van Lagen has set his sights much higher, predicting a price level between $300,000 and $320,000. In a recent post on X, he pointed to Bitcoin’s breakout from a four-year bullish Megaphone Pattern, marked by diverging trendlines with higher highs and lower lows, signaling a potential sharp uptrend after breaking the upper resistance. A tale of ambition, indeed!

Employing the Elliott Wave Theory, the analyst noted that BTC is in the final Wave 5 of an impulse cycle, supporting the bullish case for another 170% to 190% Bitcoin rally. A rally that could rival the great Russian winter in its ferocity!

As the markets edge toward euphoria, Alphractal CEO João Wedson has wisely recommended caution and patience for investors. He noted that BTC heatmaps reveal price movements toward high-leverage zones, suggesting that market makers may target overconfident traders for liquidations. A warning, much like a mother’s advice to her child!

Wedson emphasized that public obsession over new all-time highs could create traps for both bulls and bears. Thus, it is imperative to “always manage your risk.” A lesson as old as time itself!

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2025-05-22 00:25