Bitcoin (BTC), the flagship crypto-asset, is currently trading above $104,000 after a significant price rally of 10.98% in the past week. Despite recent sideways moves following a rejection of the $105,700 zone, some trading indicators are signaling that this uptrend is likely to continue leading to new price discovery.
Bitcoin growth hinges on two critical resistance levels
In one latest post on Xfamous cryptoanalyst Burak Kesmeci shared an interesting BTC market forecast based on the Bitcoin Gold Ratio Multiplier.
As the name suggests, the Bitcoin Gold Ratio Multiplier measures the relationship between BTC’s price and gold value, providing a perspective on market sentiment and price momentum. It is used to assess the valuation of BTC relative to gold and can also identify potential mean reversion points by exploiting historical relationships and trends between both assets.
According to Kesmeci, the Bitcoin Gold Ratio Multiplier has pinpointed $111,000 as the next major resistance level for the top cryptocurrency due to historical trading patterns. Therefore, investors should anticipate a large price decline as BTC approaches this price zone. However, strong market catalysts such as strong institutional demand that we are currently seeing could sustain a price rally beyond this resistance.
On both sides, this prediction indicates that Bitcoin potentially has more room to run despite the recent rejection at $105,700. Moreover, the current uptrend is likely to push BTC past its current record level of $108,268, leading to unknown price zones.
While $111,000 is seen as a critical near-term obstacle, the Bitcoin Gold Ratio Multiplier also identifies a long-term resistance at $139,000 represented by a red trend line.
In this context, the red trend level represents the line that separates the current bull market phase from an explosive growth phase. Burak Kesmeci postulates that the “real fun” will begin if BTC bulls can break past $139,000, indicating the potential for a parabolic rally compared to previous price gains.
BTC Price Overview
At press time, Bitcoin is trading at $104,887 after a 0.84% price decline in the last 24 hours. Additionally, the asset’s daily trading volume has crashed by 29.30%, falling to around $50.6 billion. Optimism around the leading cryptocurrency remains high as 2025 represents the final year of the bull cycle where massive price increases have historically been recorded.
This perception is combined with the expectations of US pro-crypto policy after the inauguration of Donald Trump increasing the excitement around Bitcoin at the moment. Therefore, analysts continue to attach high price expectations to the crypto asset from $145,000 to as high as $350,000.
