Bitcoin Price Prediction: Is BTC Ready to Hit $200,000 Soon?
The post Bitcoin Price Prediction: Is BTC Ready to Hit $200,000 Soon? appeared on BitcoinEthereumNews.com.
Bitcoin Price Analysis: Correction Phase is Over, New Highs Ahead? Bitcoin is currently trading around $103,700, recording an impressive 7% gain over the past week. After months of sideways consolidation, BTC finally broke through its major resistance at $100,000, signaling the end of its bearish phase and the start of a potential bullish super cycle. According to leading analysts, this breakout invalidates previous bearish signals that kept the market under pressure for months. The Relative Strength Index (RSI) on the 3-day chart has printed a higher high, a classic indication that the correction phase is over, and bullish momentum is building up. BTC/USD 1-day chart – TradingView On the daily timeframe, things look even more promising. Bitcoin successfully closed a daily candle above the critical resistance level of $100,000, and has now firmly reclaimed the middle band of its Bollinger Bands, further confirming the bullish trend reversal. This move is widely seen as the official start of a new uptrend, with BTC now aiming for higher levels as institutional buyers return to the market. BTC Price Targets: Is It Time to Buy Bitcoin Now? The key resistance levels to watch in the coming days are $110,000, $125,000, $150,000, and ultimately $200,000. If Bitcoin manages to stay above the current support zone of $100,000, the path towards a new all-time high becomes highly probable. From a technical perspective, the market sentiment has shifted back to bullish, and if Bitcoin continues this momentum, altcoins are expected to follow with explosive gains as well. Additionally, Bitcoin futures data shows a surge in open interest, suggesting that institutional and retail traders are positioning themselves for a major price move. While short positions are quietly building, they are being absorbed by stronger buyers, a clear sign that the bulls are back in control. The Chaikin…
Filed under: News - @ May 14, 2025 8:25 am