Important takeouts:
Bitcoin’s all-time high of $109,458 has lined up with the seventh consecutive Green Weekly Candle since April, highlighting the strength of its current bullish momentum.
Analysts expect BTC to reach between $135,000 and $320,000 in 2025.
The BTC heatmap displays the highly leveraged zones that may trigger clearing. Therefore, risk management remains important.
Bitcoin (BTC) hit a new all-time high of $109,458 on Binance on May 21, marking its seventh consecutive Green Weekly candles as the price bounced off the low swing of $74,500.
If Bitcoin closes its current weekly candles above $106,500 on May 25th, it marks its longest consecutive Green Weekly wins since October 2023.
As GlassNode points out, Bitcoin’s market capitalization and realised CAP also reached new highs of $2.17 trillion and $911.5 billion.
Related: Is Bitcoin price close to the top of the cycle? – 5 metrics that help traders decide
Bitcoin Bulls targets high prices above $110,000
Crypto Trader Crypto Trader Titan from Crypto has gained bullish momentum on BTC’s side, pointing out that its $135,000 Bitcoin price target remains on 2025’s “Play”.
On the chart, the 1.618 Fibonacci level attracts high swings from low swings to identify potential targets for $135,000-140,000.
Veteran trader Peter Brandt has admitted the new highs for BTC, but noted that such milestones are “technically unimportant” in bull markets. The trader said,
“The bull market always makes ass. That’s the definition of bull market. Are you on track from the top of $125,000 to $150,000 by the end of August????”
In comparison, technical analyst Gert Van Lagen sets much higher price levels between $300,000 and $320,000. In a recent X post, Van Lagen points out Bitcoin’s breakout from a four-year bullish megaphone pattern marked by forking trendlines at highs and lows, showing potential sharp uptrends after breaking the upper resistance.
Using Elliott Wave theory, analysts note that BTC is at the final wave 5 of the impulse cycle, further supporting 170% to 190% bullish cases of Bitcoin rally.
While the market is moving towards happiness, Alfractal CEO Joanne Wedson has encouraged investors to be careful and persevered. Analysts suggest that the BTC heatmap reveals price movements into high leveraged zones, suggesting that market makers will liquidate overconfident traders.
Wedson emphasized that the national obsession with the highest ever high could create traps for both bulls and bears. Therefore, it is essential to “constantly manage risk.”
Related: Bitcoin, similar to the rise in BTC prices seen after Trump election victory, enters the “acceleration phase”
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
