bitcoin (btc), the flagship crypto asset, is currently trading above $104,000 following a major price rally of 10.98% in the last week. Despite recent sideways moves following a rejection at the $105,700 zone, certain trading indicators indicate that this uptrend is likely to continue leading to new price discovery.
bitcoin growth depends on two critical resistance levels
in a<a target="_blank" href="https://x.com/burak_kesmeci/status/1880347778305704425″ target=”_blank” rel=”noopener nofollow”> recent post on xRenowned crypto analyst Burak Kesmeci shared an interesting forecast on the btc market based on the bitcoin gold ratio multiplier.
As the name implies, the bitcoin gold ratio multiplier measures the relationship between the price of btc and the value of gold, offering insight into market sentiment and price momentum. It is used to evaluate the valuation of btc relative to gold and can also identify potential mean reversion points by taking advantage of historical relationships and trends between both assets.
According to Kesmeci, bitcoin Gold Ratio Multiplier has identified $111,000 as the next major resistance level for the top cryptocurrency due to historical trading patterns. Therefore, investors should anticipate a major price pullback as btc approaches this price zone. However, strong market catalysts, such as the strong institutional demand currently seen, may sustain a price rally beyond this resistance.
On both sides, this prediction indicates that bitcoin potentially has more room to run despite recently facing a rejection at $105,700. Furthermore, the current bullish trend is likely to push btc beyond its current all-time high of $108,268, leading to unexplored price zones.
While $111,000 is considered a critical short-term hurdle, the bitcoin Golden Ratio Multiplier also identifies long-term resistance at $139,000 represented by a red trendline.
In this context, the red trend level represents the line that separates the current phase of the bull market from a phase of explosive growth. Burak Kesmeci posits that the “real fun” will begin if btc bulls can break above $139,000, indicating the potential for a parabolic rally compared to previous price increases.
btc Price Overview
At press time, bitcoin is trading at $104,887 after a 0.84% price drop in the last 24 hours. Furthermore, the asset's daily trading volume has plummeted by 29.30% to around $50.6 billion. Optimism around the leading cryptocurrency remains high as 2025 represents the final year of the bull cycle that has historically seen massive price increases.
This notion, combined with expectations of US pro-cryptocurrency policies following Donald Trump's inauguration, is adding to the excitement around bitcoin right now. Therefore, analysts continue to set lofty price expectations for the crypto asset, ranging from $145,000 to $350,000.
Featured image of CCN, Tradingview chart
