Bitcoin Surges 26% From April Lows, Eyes $130,000

Bitcoin is currently trading near a critical resistance zone around $94,250, a level known as the golden ratio in Fibonacci analysis. This level is considered highly important in both technical trading and natural patterns, and often marks strong turning points in price. Bitcoin reaching this level suggests the recent rally may be slowing down, and traders are watching closely to see what happens next.

So far, Bitcoin has shown signs of a possible five-wave move from its April low. If this pattern completes, it would be a clear sign of bullish strength and could open the door for further gains. However, if the move turns out to be only a three-wave structure, it may mean that the market is still in a broader bear trend, and this recent rise was just a temporary recovery.

Key support for the current trend is between $84,526 and $88,494. As long as the price stays above this zone, the outlook remains positive in the short term. There is also a minor support zone between $91,047 and $93,581 that could help hold the price up in the coming days.

Traders should keep an eye on these levels. If Bitcoin can hold above support and break past the $94,250 resistance with strong momentum, the next target could be as high as $130,000 in the longer term. However, a drop below support may signal weakness and increase the risk of a deeper correction.

Bitcoin's price trajectory has been a subject of intense speculation, with various models and analysts predicting significant gains in the coming years. According to the Bitcoin Quantile Model, Bitcoin is on track to hit a price target of $130,000 and potentially $163,000 before the end of 2025. This model, which reclaims the power-law price, suggests a bullish outlook for the cryptocurrency. The model's predictions align with other forecasts that suggest Bitcoin could exceed $130,000 by the end of 2025.

The CIO of Ledn predicted that Bitcoin could surpass $130,000 by late 2025 or early 2026. This prediction is supported by Edwards' Energy Value indicator, which calculates Bitcoin's fair value based on the joules of energy input alone. According to this indicator, Bitcoin should be trading near $130,000. The Energy Value model by Capriole also suggests that Bitcoin's current price trades about 40% below its estimated intrinsic value of $130,000. This indicates that there is significant room for growth in the cryptocurrency's price.

The projected price range for Bitcoin's next cycle high is notably bullish, setting the target between $90,000 to $130,000. This prediction underscores the optimism surrounding Bitcoin's future price movements. The cryptocurrency has already shown signs of strength, surging 26% from its April lows to reach $94,600. This rally has been driven by a weakening U.S. dollar, which has also driven up the gold price. The Bitcoin price has reclaimed $94,415 after bouncing from a monthly low of $74,420, indicating that the cryptocurrency is holding its support level at $92,000. With these factors in mind, it is clear that Bitcoin's price trajectory is poised for significant gains in the coming years.