Bitcoin is trying to break through the critical barrier at $106,000, aiming to rally and set a new all-time high (ATH).
Despite the recent volatility, BTC’s bullish momentum remains strong, and the cryptocurrency appears to be repeating historical patterns observed during previous market cycles.
Bitcoin is not in danger
The Mayer Multiple Indicator shows that Bitcoin is neither overbought nor oversold, and is currently positioned at a neutral level. This indicates that the current bullish momentum may continue, providing room for the price to rise further without facing an immediate correction. This neutrality in market sentiment is a promising sign for Bitcoin enthusiasts.
A neutral position of the indicator indicates stability, with buyers and sellers maintaining balance. This balance, coupled with Bitcoin’s uptrend, suggests that the cryptocurrency could gather enough momentum to break through key resistance levels and possibly target a new ATH in the near term.
Bitcoin’s dominance in the cryptocurrency market follows a 4-year pattern, providing insight into its overall momentum. After bottoming at 54% in December 2024, Bitcoin dominance rose to over 57% in January 2025. This pattern mirrors the 2020 cycle, where dominance bottomed at 60% in November 2020 and rose to 69% by January 2021.
Bitcoin’s return to dominance highlights its strong position as a market leader. Similar to the 2020 cycle, this trend indicates a potential rise in the price of Bitcoin. This is because increasing dominance usually corresponds to a bullish phase for a cryptocurrency.
BTC Price Prediction: Finding a Break
Bitcoin is currently at $104,647, having failed to turn the $106,193 resistance into support. A breakout of this level is crucial for Bitcoin to advance beyond $108,400 and post a new ATH, boosting its bullish momentum.
The current ATH price is $108,341, and Bitcoin’s formation of a double bottom pattern suggests that an 11% rally could follow the breakout. If that happens, Bitcoin price could target $113,428. This would reinforce its upward trajectory and represent an important milestone for the king of cryptocurrencies.
However, failure to break above $106,193 could result in the price consolidating above $102,235. A loss of this support level could lead to a further decline to $100,000, with a possible drop to $95,668. This scenario would challenge Bitcoin’s bullish outlook, emphasizing the importance of maintaining key support levels.
Disclaimer
In line with Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy and Disclaimer have been updated.
