Bitcoin (BTC), the flagship crypto asset, is currently trading above $104,000 after a significant 10.98% price rally over the past week. Despite the recent sideways movements after the rejection in the $105,700 zone, some trading indicators indicate that this rally is likely to lead to fresh price discovery.
Bitcoin growth hinges on two critical resistance levels
In A Latest post on XRenowned crypto analyst Burke Kesmesi 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 price of gold, offering a perspective on market sentiment and price movement. It is used to evaluate BTC’s valuation against gold and can also identify potential semantic inflection points by leveraging historical correlations and trends between the two assets.
According to CaseMesi, the Bitcoin Gold Ratio multiplier has pegged $111,000 as the next major resistance level for the major cryptocurrency due to historical trading patterns. Therefore, investors should expect a big price pullback as BTC approaches this price zone. However, strong market catalysts such as strong institutional demand as seen at present could sustain a price rally beyond this resistance.
On either side, this forecast shows that Bitcoin likely has more room to run despite the recent rejection at $105,700. Additionally, the current uptrend is likely to push BTC past its current all-time high of $108,268, leading to undesirable price zones.
While $111,000 is seen as a critical short-term barrier, the Bitcoin Gold Ratio Multiplier also identifies long-term resistance at $139,000, indicated by a red trend line.
In this context, the red trend level represents the line separating the current bull market phase from the explosive growth phase. Burke Kesmesi said the “real fun” will begin if BTC bulls can push past $139,000, indicating the potential for a parabolic rally relative to previous price gains.
BTC price overview
At press time, Bitcoin trades at $104,887 after a 0.84% price decline over the past 24 hours. Additionally, the asset’s daily trading volume fell by 29.30% to around $50.6 billion. Optimism around major cryptocurrencies remains high as 2025 marks the final year of a bull cycle that has historically seen massive price gains.
This notion was coupled with expectations of US pro-crypto policies following the inauguration of Donald Trump Adds to the excitement surrounding Bitcoin at the moment. Therefore, analysts continue to expect higher prices for the crypto asset, starting at $145,000. A maximum of $350,000.
Featured images from CCN, charts from Tradingview
