Bitcoin (BTC), the flagship crypto asset, is currently trading above $104,000 after a significant price raise of 10.98% in the last week. Despite recent sideways moves following the rejection at the $105,700 zone, some trading indicators signal that this uptrend is likely to continue, leading to modern price discoveries.
Bitcoin’s rally depends on two critical resistance levels
In last post on Xwell-known cryptocurrency analyst Burak Kesmeci shared an captivating forecast about the BTC market based on the Bitcoin Gold Ratio multiplier.
As the name suggests, the Bitcoin Gold Ratio Multiplier measures the relationship between the BTC price and the value of gold, offering a perspective on market sentiment and price dynamics. It is used to assess the valuation of BTC relative to gold and can also identify potential mid-points of return by leveraging historical links and trends between both assets.
According to Kesmeci, the Bitcoin Gold Ratio multiplier has pointed to $111,000 as the next major resistance level for the leading cryptocurrency due to historical trading patterns. Therefore, investors should expect prices to drop significantly as BTC approaches this price zone. However, forceful market catalysts, such as the forceful institutional demand we are currently seeing, could sustain price increases beyond this resistance.
On both sides, this forecast indicates that Bitcoin potentially has more room to run despite its recent rejection at $105,700. Additionally, the current uptrend will likely push BTC beyond its current all-time high of $108,268, leading to uncharted price zones.
While $111,000 is seen as a critical short-term hurdle, the Bitcoin Gold Ratio multiplier also points to long-term resistance at $139,000, represented by the red trendline.
In this context, the red trend level represents the line separating the current bull market phase from the rapid growth phase. Burak Kesmeci postulates that the “real fun” will begin if BTC bulls manage to break above $139,000, indicating the potential for a parabolic rally compared to previous price increases.
BTC price overview
At press time, Bitcoin is trading at $104,887 after a 0.84% price drop over the last 24 hours. Additionally, the asset’s daily trading volume dropped by 29.30%, reaching approximately $50.6 billion. Optimism around the leading cryptocurrency remains high as 2025 marks the final year of a bull cycle that has historically seen massive price gains.
This view, combined with expectations for US pro-crypto policy following Donald Trump’s inauguration, is currently increasing excitement around Bitcoin. Therefore, analysts continue to set high price expectations for the crypto asset, ranging from $145,000 to as high as $350,000.
Featured image from CCN, chart from Tradingview
