The price of Bitcoins fought to maintain the 2024 shoot in the first quarter of 2025, falling apart under macroeconomic uncertainty in the United States. While the cryptographic market looked like continuing misfortunes at the beginning of April, prices want to regain their highest levels – thanks to the improvement of the market climate.
According to the latest price data, the price of Bitcoins has increased by over 25% in this quarter so far, exceeding most of the assets with high capitalization in the same period. Interestingly, the most vital cryptocurrency seems to have more space for further growth, and its current high price of all time seems to be another direct goal.
Three vital levels to watch the second quarter
In a post of May 17 on the X platform, a beetroot analyst at the beetroot chain evaluated Bitcoin price potential in the remaining weeks of this second quarter. In his latest analysis, Pundit Crypto revealed three levels that can be crucial for the BTC price trajectory.
The appropriate indicator here is the golden ratio of the multiplier, which is useful primarily in tracking cyclical price behavior and identifying vital price levels. This technical analysis tool uses multipliers based on fibonacci to a 350-day movable average (350DMA) to identify potential peaks and DNA.
Kesmeci identified levels of USD 127,000 and USD 159,000 as a resistance region to watch during this bull rally. In particular, the level of $ 127,000 is in line with the 1,6x 350-day multiplier The average that served as AND Top in the middle of the cycle in previous bulls.
Source: @burak_kesmeci on X
On the other hand, the level of USD 159,000 correlates with a multiplier 2x 350DMA and historically signaled the peaks of the cycle On the BTC market. However, the price of bitcoins would have to successfully violate the summit in the middle of the cycle if there is a chance to rally compared to USD 159,000.
In addition, Kesmeci indicated the most vital support level to observe the price of Bitcoins on other days of the second quarter of the year. Based on the golden multiplier coefficient, this pillow is 80,000 USD around the 350-day movable average, where long-term accumulation usually occurs. The fall under this support may annul the stubborn theory, which is currently kept at the price of BTC.
Ultimately, Kesmeci noticed that the ratio of the golden multiplier is based on medium -sized average, as a result of which the highlighted levels are subject to changes when the price of Bitcoins moves in the coming days.
Bitcoin price at first glance
From this letter, the BTC value floats around USD 103,275, without significant price movement in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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