Bitcoin’s Next Stop: Will $115K or $223K Be the Ultimate Bull Market Ceiling?

Bitcoin's rally has traders buzzing—but where's the real resistance? Two targets dominate the conversation: $115K or a moonshot to $223K.

Bulls vs. Bears: The Psychological Battle

Market veterans know round numbers act like gravity wells in crypto. The $115K level looms as a classic profit-taking zone, while $223K represents the 'if this breaks, all bets are off' scenario.

Liquidity Hunters Circle

Algos are already front-running both levels, creating self-fulfilling prophecies. Meanwhile, Wall Street's latecomers keep recycling 'this time it's different' narratives—between sips of their $8 artisanal coffees.

The Verdict: Watch the Wicks

True resistance isn't where price stalls—it's where violent rejections happen. Whether we see a graceful consolidation or a 20% liquidation cascade at these levels will tell us everything about Bitcoin's real strength.

The same trendline capped upside in December and January, paving the way for a correction that saw prices drop to a low of $75,000 in April.

Log-scaled resistance at $220K

That said, the above chart is a linear-scaled or arithmetic-scaled monthly chart. It shows the absolute price changes, a feature that makes it suitable for analyzing short-term trends.

The potential resistance price, however, may be less reliable than that derived from the long-scaled chart, which compresses significant percentage moves, making trendlines and resistance levels more precise and more meaningful.

Connecting the 2017 and 2021 highs on the log-scaled monthly chart aligns the resistance at approximately $223,000, rather than $115,000. The log-scaled trendline resistance is likely more consistent with the exponential growth pattern of Bitcoin's past bull markets.