Bitcoin Smashes Through $110K – New ATH Defies Wall Street Skeptics
BTC just bulldozed past six figures like they were made of wet tissue paper. The king of crypto laughs at ’overbought’ warnings while traditional finance scrambles to explain how an ’unbacked asset’ keeps printing generational wealth.
Fun fact: This rally costs less in energy than your average hedge fund’s monthly private jet budget. The orange coin doesn’t care about your spreadsheets.
- Bitcoin broke above $110,000 and touched a record high of $110,751 on May 21.
- The key levels at $112,500 and $115,000 can catalyze additional bullish momentum.
- Analysts predict Bitcoin targets of $135,000 and $320,000 on technical levels.
Bitcoin’s price started a fresh upward move from the $104,200 support zone, building a solid base. The cryptocurrency quickly cleared the $106,000 resistance level, allowing bulls to push the price beyond $107,500. The strong momentum set the stage for further gains in the market.
The buying pressure intensified as Bitcoin’s price surged past the $109,000 resistance zone. It hit a fresh all-time high at about $110,751, reflecting strong bullish sentiment. Currently, the price is consolidating above the 23.6% Fibonacci retracement level, as seen from the $104,270 swing low and recent high of $110,751.
Bitcoin’s rally marked a significant milestone by topping $110,000 for the first time, gaining approximately 3% in the past 24 hours. The breakthrough beat previous highs on January 20, creating new positivity for investors and traders. The Bitcoin touched $110,751 on the evening of May 21 as per TradingView.
Potential Push Toward $115,000 Zone
Immediate resistance sits NEAR $110,850, followed by critical resistance at $112,000 and $112,500 levels. A close above $112,500 at a sustainable level may trigger even newer highs and take BTC through the $113,800 resistance level. If momentum continues unabated, even the $115,000 level may be tested in the short term.
As bitcoin ventures into unprecedented price discovery, analyst Ali (@ali_charts) made predictions at $116,000, $126,000, $136,000, and $148,000 levels. These levels of resistance are based on past breakouts and technical levels. The bullishness indicates investor sentiment driven by rising trading volume and positive market structure.
Bitcoin’s Bullish Momentum Fuels $135K Forecast
Crypto trader Titan of crypto also reinforced this optimism, maintaining that a $135,000 target remains achievable in 2025. He bases his argument on the Fibonacci extension tool, forecasting the growth in prices by comparing swing highs and lows from before. His extension at 1.618 falls between $135,000 and $140,000, backing his prediction.
Veteran trader Peter Brandt mentioned that although new all-time highs are a thrill, they’re “not technically significant” in a rising bull market. Brandt projected a possible top at $125,000 to $150,000 sometime around the latter part of August and pointed out the accelerated pace of this cycle.
Meanwhile, technical analyst Gert van Lagen predicts a massive MOVE to $300,000–$320,000. His analysis is based on Bitcoin’s breakout from a 4-year bullish Megaphone Pattern. This rare formation, marked by widening highs and lows, suggests a powerful continuation of BTC’s macro-bullish trajectory post-resistance breakout.
Read More: Bitcoin Surges Above $105,000 as crypto market Nears 4 Trillion Valuation
