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Bitcoin Price About to Go Parabolic? BTC targets $160K in the next few months

Bitcoin By
Twitter Founder Jack Dorsey Says BTC Can Replace the US
Twitter Founder Jack Dorsey Says BTC Can Replace the US

Important points

  • Bitcoin is continuing to fight a major resistance zone just below the all-time highest levels.

  • “Parabolic” BTC talk is resurfacing as the bulls are holding six-figures after Wall Street’s opening.

  • The highest prices seen since January have led to an increase in signs of profiteering.

BitcoinBTCIt is attracted “parabolic” Bulls still holding six-figure price targets on May 9

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

BTC prices in line with “crazy numbers”

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView The BTC/USD chart shows that there has been little consolidation in the last 24 hours.

Bitstamp recorded a pair price of $104,332 which is the highest value since the beginning of January. It also marks a break from the long-term downtrend that has been in effect for most of 2025.

Participants in the market have begun to restore faith in the bull Bitcoin market.

“November 2024 monthly candle was the breakout signal on long-term charts,” popular economist Aksel Kibar told X Followers in the latest post.

A chart comparing November 2024 and similar months is included. “breakout” Kibar reminds us of his views on past events. existing $137,000 target.

BTC/USD 1-month chart. Source: Aksel Kibar/X

Some, on the other hand, are more optimistic about BTC’s future price. Talk of “parabolic” The upside of the month is that it has come back.

“Bitcoin is going exponential,” Jason Williams, a cryptocurrency entrepreneur and an investor summarized As much as $100,000 in return.

Matthew Hyland is one of the traders and analysts who have forecasted new record highs during Q2 with his most recent video update.

Spending $160,000 on a single item “crazy numbers,” He said that if the bulls remain in control, a leading indicator called relative strength (RSI) could be used.RSIThe ) supports additional upside.

“I actually do think that there is a high chance that Bitcoin will end up breaking through these highs,” He said.

Bitcoin stops progressing at stubborn resistance

Skew, a popular trader, warned that profit-taking was in full force at $103,000. This is a long-term key resistance zone.

Related: Bitcoin eyes sub-$100K liquidity — Watch these BTC price levels next

“Starting to see some profits taking here, likely from a large trader. Passively selling BTC into price here & closing out longs,” He explained On the Day

“Logically makes sense given BTC is trading around HTF Supply & Resistance $103K – $104K.”

BTC/USD vs. S&P 500 1-day chart. Source: Cointelegraph/TradingView

Skew suggests that the behavior of US stocks at Wall Street’s opening may also spillover into cryptocurrency.

“In terms of current underlying flow, market remains correlated to tradfi so keep an eye on performance today into close,” He added.

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.