Bitcoin (BTC), the major cryptocurrency asset, is currently trading above $104,000 after a massive 10.98% price surge last week. Despite the recent sideways moves after the rejection in the $105,700 area, some trading indicators suggest that this uptrend is likely to continue leading to new price discovery.
Bitcoin’s growth hinges on two critical resistance levels
In a Last post on Xfamous cryptocurrency analyst Burak Kesmeci shared an interesting prediction about the BTC market based on Bitcoin’s gold ratio multiplier.
As the name suggests, Bitcoin’s gold ratio multiplier measures the relationship between the price of BTC and the value of gold, providing a perspective on market sentiment and price momentum. It is used to evaluate BTC’s valuation relative to gold and can also identify potential intermediate reversal points by taking advantage of historical relationships and trends between both assets.
According to Kesmeci, Bitcoin’s gold ratio multiple has identified $111,000 as the next major resistance level for the leading cryptocurrency due to historical trading patterns. Therefore, investors should expect a significant price decline as Bitcoin approaches this price zone. However, strong market catalysts such as the strong institutional demand we are currently seeing may see prices continue to rise beyond this resistance.
On both sides, this prediction suggests that Bitcoin likely has more room to run despite recently facing rejection at $105,700. Additionally, the current uptrend will likely push BTC to an all-time high of $108,268, leading into uncharted price territories.
While $111,000 is a critical hurdle in the short term, Bitcoin’s gold ratio multiple also identifies long-term resistance at $139,000 represented by the red trend line.
In this context, the red trend level represents the dividing line between the current bull market phase and the explosive growth phase. Burak Kescemisi posits that the “real fun” will begin if Bitcoin bulls manage to break above $139,000, suggesting a potential parabolic rally compared to previous price rallies.
Bitcoin price overview
At press time, Bitcoin is trading at $104,887 after the price fell by 0.84% over the past 24 hours. In addition, the daily trading volume of the asset decreased by 29.30% to approximately $50.6 billion. Optimism for the leading cryptocurrency remains high, with 2025 marking the final year of a bull cycle in which massive price rises have historically been recorded.
This idea, combined with expectations of pro-crypto US policies following the inauguration of Donald Trump, is adding to the excitement around Bitcoin at the moment. Therefore, analysts continue to peg high price expectations for crypto assets ranging from $145,000 to $350,000.
Featured image from CCN, chart from Tradingview
