Bitcoin (BTC) Strengthens Above $105,000, Will the Bullish Trend Continue?

Jakarta, Pintu News – Bitcoin is currently trading around the $105,000 mark after briefly rising to $107,000 in the past 24 hours. Despite experiencing rejection around $107,000 several times in recent days, Bitcoin (BTC) managed to close last week’s candlestick above a key resistance level. This signals a possible continuation of the uptrend and bullish market participants’ dominance of the Bitcoin (BTC) price.

Bitcoin (BTC) Weekly Close Above High Range

A successful weekly close above the red horizontal line at $103,000 shows that bullish investors are still in control of Bitcoin’s (BTC) price momentum. This close not only shows the strength of the market but also the potential to continue the uptrend that has been going on for some time now. Despite the rejection at the $107,000 peak, the successful close above this important level adds to investors’ confidence in Bitcoin’s (BTC) long-term prospects.

Read More: Bitcoin Sets New Price Records: What Are the Implications for the Crypto Market?

Post-Breakout Retest Underway

After successfully breaking the resistance at $104,000, which was previously the stubborn upper limit during Bitcoin (BTC) price consolidation between $102,000 and $104,000 since May 9, a retracement occurred. Bitcoin (BTC) price retested this level after being rejected again at $107,000. This is a normal phase in many market scenarios where the price retests important levels post-breakout to confirm new support.

Market Outlook Following Bullish Dynamics

The current market dynamics show that Bitcoin (BTC) is still the leader in determining the direction of the overall crypto market. With Bitcoin (BTC) maintaining a position above key levels, it gives investors a positive signal of a possible continuation of the bullish trend. Bitcoin’s (BTC) success in defending this level despite some pushback indicates strong support from buyers who are not deterred by short-term volatility.

Conclusion

With all these indicators, the Bitcoin (BTC) market shows that despite significant price fluctuations, the market structure remains bullish. Investors and market analysts should continue to monitor these key levels as they will be crucial in determining the direction of the Bitcoin (BTC) price in the coming weeks and months. The confidence shown by the close above the key resistance signals that market participants are still optimistic about the potential for further gains.

Read More: Bitcoin and Dogecoin Set New Price Records Amid Crypto Market Trends

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Range High Close. Accessed on May 21, 2025
• Featured Image: Generated by AI