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Bitcoin (BTC) has the potential to print a new all-time high at $110,446: Analysis and Price Projections
Bitcoin (BTC) is once again attracting the attention of investors and traders after showing promising price movements. Based on the latest chart data on May 20, 2025, at 12:55 WIB, Bitcoin is at the level of $106,289, with the potential to retest the resistance area at $107,333 and even set a new all-time high (ATH) at $110,446. Let’s delve deeper into what drives this projection.
Technical Analysis: Patterns and Indicators Support an Increase
On the H4 chart, Bitcoin has formed an ascending triangle pattern, a bullish pattern that often signals the continuation of an uptrend. After failing to test the support area around $100,000, BTC managed to bounce back and is now on track to target the next resistance. The resistance line on this pattern is seen at the $107,333 level, which, if breached, could pave the way for the next target at $110,446, a new highly-anticipated ATH level.
The MACD indicator (Moving Average Convergence Divergence) at the bottom of the chart also shows a positive signal. Although the MACD histogram has weakened slightly, the MACD line (615.187) is still above the signal line (317.066), indicating that the bullish momentum remains strong. In addition, the current price is above the Fibonacci retracement level of 100.0% (around $106.385), adding confidence that the uptrend will continue.
Fundamental Catalysts: Positive News Fuels Optimism
In addition to technical factors, market sentiment towards Bitcoin is also driven by a number of positive news catalysts. In recent weeks, the adoption of Bitcoin as a payment tool by large companies has continued to increase. Rumors about more crypto-friendly regulations in several countries have also strengthened investor confidence. Additionally, the launch of Bitcoin-based investment products, such as new ETFs, has attracted more institutional capital to the crypto market.
The crypto community is also buzzing about the potential of Bitcoin as a hedge against inflation, especially amid global economic uncertainty. This has increasingly drawn attention to BTC as an alternative safe-haven asset, while also driving demand in the market.
Price Projections and Trading Strategies
With a combination of bullish technical patterns and positive fundamental catalysts, Bitcoin has the potential to reach a target of $107,333 in the near future. If this momentum continues and the resistance is successfully broken, a new ATH at $110,446 is very likely to be achieved. However, traders need to be cautious of a potential pullback if BTC fails to break through that resistance, with the nearest support area at $100,029.
For traders, the buy on dip strategy around the support level of $100,000 to $101,934 can be an interesting option, with profit targets at $107,333 and $110,446. Be sure to implement good risk management, considering the high volatility of the crypto market.
Bitcoin is on a promising track to record a new price high. Support from technical analysis and positive sentiment in the market are the main drivers of this potential increase. For investors and traders, this moment could be a golden opportunity to take advantage of the bullish trend, but still with a measured strategy. Keep an eye on price movements and the latest news to make the right decisions in this dynamic market!