Bitcoin Nears $105,000 Resistance, Analysts Eye $120,000-$130,000 Zone

Bitcoin (BTC) is approaching a potential new all-time high, with some analysts suggesting it could reach as high as $120,000. However, there are warnings that the current bull market may be nearing its end. MasterAnanda, an analyst, has identified a significant resistance zone between $120,000 and $130,000, which could cap the current rally. He predicts that a market top is likely in late 2025, followed by a downturn. This resistance zone aligns with projections from another analyst, Tradingshot, who anticipates Bitcoin hitting $130,000 by June 2025.

MasterAnanda suggests that a significant mid-cycle correction in this range could suppress Bitcoin’s upside potential. For the cryptocurrency to reach its full bullish target, potentially between $180,000 and $220,000, any meaningful pullback should ideally occur later, around the $150,000 to $160,000 range. Based on his outlook, Bitcoin’s bull run could extend through November 2025, giving the market another six months of upward momentum before a bear phase potentially sets in. He noted that with a 2-3 months correction now, it isn’t that long.

Adding to the bullish outlook, pseudonymous crypto analyst Thescalpingpro projected a cycle peak of $207,701. This target is based on historical trends and technical indicators, particularly the Fibonacci extension levels. In the previous bull market, Bitcoin peaked at the 3.618 Fibonacci extension. Currently, BTC remains below the 1.618 level, with the next major resistance at the 2.618 extension near $154,522. If this level is breached, the analyst expects the 3.618 level, at $207,701, to act as the final resistance.

At the moment, Bitcoin is attempting to reclaim the $105,000 resistance level, which is critical in setting the stage for a new all-time high above the previous record of nearly $110,000. As of the latest update, BTC was trading at $104,665, up almost 2% over the past 24 hours. While market sentiment and technical indicators remain bullish, caution is needed, especially with momentum indicators, including the 14-day Relative Strength Index (RSI), nearing the overbought threshold at 67.

Bitcoin's price has been consolidating within a narrowing range of $101,500 to $104,000, with two failed attempts to breach the $105,000 ceiling. This consolidation has led to a delay in the resolution of the price movement, with analysts suggesting that a breakout may not occur until a proper support test around $100,000. The market sentiment has turned slightly bearish, which historically has signaled a potential bullish move. However, without a strong catalyst, the risk of a bull trap remains high.

The 50-day moving average has crossed above the 100-day, forming a Golden Cross that typically indicates long-term bullish momentum. Despite this, traders are warned of short squeezes and false breakouts as long as the $105,000 resistance holds. The Balance of Power (BoP) on the daily chart hovers near neutral, showing no decisive tilt toward buyer or seller dominance, further evidence of market indecision.

A bullish breakout above $105,000 could set the stage for a push toward $108,765 and possibly extend to $110,000, confirming the upward trend continuation. On the flip side, a drop below $100,000 could trigger sell pressure toward $98,000, with the next strong Fibonacci support lying at $84,442 and then $73,992. Deeper extensions place longer-term downside targets at $59,003 and $40,609, though these are more relevant in the event of a full macro breakdown.

The latest on-chain data suggests that Bitcoin could be gearing up for significant price movements over the next few weeks. Analysts have noted that Bitcoin is finally forming a market top, potentially signaling the onset of a bear market. However, if the Global M2 money supply keeps expanding, Bitcoin could pump well into 2026, aligning with the peak of this macro cycle.

Bitcoin has been on track to surpass its all-time high of $106,533, with experts predicting that the bull market could last a decade. Despite the bullish volume uptick, momentum has stalled just below $105,000, with Bitcoin claiming a daily high of $104,432.72. The market leader has seen some resistance over the past week, being challenged to grow past the $104,000 to $105,000 level. This temporary "pumping of the brakes" has been enough to swing traders slightly bearish once again. Markets generally tend to move opposite to the crowd's expectations.

Bitcoin has reached an all-time high in 2025, with 117 days since the last all-time high. The future of Bitcoin looks remarkably bullish, with leading experts predicting a price target around $200,000 by 2025. However, the market is currently facing stiff resistance at the $105,000 mark, with price action stuck in a narrowing range for over a week. At the time of writing, Bitcoin trades at $103,811.42, reflecting a modest 2% gain over the past 24 hours.