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The weekly close is significant since the price previously failed to close above the $120,600 resistance area, creating two long upper wicks (red icon).
As a result, last week’s close is an important step, since it takes the BTC price above its final horizontal resistance area.
While the price action is decisively bullish, momentum indicators give concerning readings.
The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) have created bearish divergences (orange), which often occur near the top of market cycles.
Nevertheless, the RSI started to increase, and the MACD has nearly made a bullish cross (black circle), so the indicators could invalidate the divergence soon.
The long-term Bitcoin price prediction for the rest of 2025 is bullish, meaning the upward trend will continue.
The chart shows that Bitcoin broke out from a diagonal resistance trend line on Oct. 1 and surged, without returning to validate the resistance as support.
Bitcoin’s momentum clearly favors the bulls, since there has been virtually no retracement since the upward movement started on Sept. 26.
As a result, the Bitcoin price could continue falling until it reaches $122,000 before surging higher.
In any case, the long-term Bitcoin trend remains bullish. The next target for the top of the increase is $133,612, created by the 1.61 external Fibonacci retracement resistance level.
Bullish End-of-Year
Bitcoin’s price has surged since falling to a low of $108,702 on Sept. 25.
After a nearly 15% rally, Bitcoin’s price reached a new all-time high of $126,199 on Oct. 10.
While a short-term decline toward $122,000 could happen, the long-term trend remains firmly bullish.
A break of $130,000 and another all-time high are likely in 2025.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
