Bitcoin (BTC) is the world’s first and most dominant cryptocurrency, operating on a decentralized network called the blockchain. Created by the anonymous Satoshi Nakamoto, it enables peer-to-peer transactions without needing a central authority like a bank [, ]. Known for its fixed supply of 21 million coins, Bitcoin is often referred to as “digital gold” and is seen as a store of value [, ]. Its recent mainstream adoption, bolstered by the approval of spot ETFs, has solidified its status as a major global asset
The combination of these technical factors suggests Bitcoin has entered what traders often call "balloon territory" – a condition where price action appears strong on the surface but lacks the underlying support necessary for sustained advancement. While the cryptocurrency could potentially reach $125,000 to $125,500, the risk-reward ratio heavily favors caution at current levels
The weekly chart shows continued structural health, as BTC price has not challenged the fastest weekly DEMA. The only modest caution is a slightly negative MACD histogram and flattening ADX, signaling trend moderation. However, SRSI and DMI are recovering while CMF holds above zero, suggesting that after a brief pause or grind, BTC remains positioned for a reach toward the ambitious 122,000 area in coming weeks, as both cross-timeframe technicals and multi-week trend behavior point in that direction
The critical resistance zone between $112,500 and $113,560 is unlikely to give way without a significant surge in buying pressure, which currently seems absent. Therefore, the most probable outcome is a period of defensive, sideways trading within this well-defined range as the market consolidates and awaits a decisive catalyst.
Looking forward, the forecast remains overwhelmingly bearish. The weekly chart, a bellwether for long-term trends, is showing a significant bearish MACD crossover for the first time in months, suggesting this is not a minor dip but a potential major trend reversal. Our analysis indicates that the price is likely to test the $105,000 support zone within the next 24 to 48 hours. Should this level fail to hold, a steeper decline toward the $100,000 mark is highly probable.
The cryptocurrency market presented a complex picture today, with Bitcoin showcasing a classic struggle between short-term recovery attempts and overwhelming high-timeframe bearish pressure
