Bitcoin (BTCUSD) Price Reaches an All-time High of $105,992

Bitcoin (BTCUSD) Price Forecast: May 21

Today, the Bitcoin price reached an all-time high of $105,992, generating significant interest across major trading platforms. The crypto has the potential for a bullish continuation pattern to reach its $120k as the coin begins to gain traction in an ascending channel, making higher highs and higher lows towards the upper resistance level. The coin has recently experienced a price surge and might swing and break up to its expected target at $120k, strengthening investors’ confidence in altcoins, and driving expectations for future gains in the crypto world.

Key Levels:
Resistance Levels: $102k, $103k, $104k
Support Levels: $74,000 $73,000, $72,000

BTC (USD) Long-term Trend: Bullish (Daily Chart)

Today, BTCUSD has recently experienced a price surge, indicating an upward trend as it reaches an all-time high of $105,992, as the coin price experiences a notable price surge in its long-term perspective.
The coin is trading at its peak value above the EMA-50, implying a high bullish trend. However, the market is presently facing overhead resistance at the recent high.

At the press time, the Bitcoin price reached an all-time high of $105,992 above the EMA-50 shortly after the daily chart opened today amid market trends, signaling growing buying interest.

Therefore, if the bulls could increase their tension in the market, the price of Bitcoin will surge to its target of $120k, indicating growing confidence in the cryptocurrency across different investor categories.

Meanwhile, further upsides are likely as the price signal points upward, suggesting the potential for a bullish continuation pattern and may likely reach an all-time target at $120k soon in the long-term outlook.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

A sharp rise is observed in the Bitcoin price as it reaches an all-time high of $105,992, drawing the attention of investors and analysts to the crypto’s short-term outlook.
The coin price remains in a bullish trend, suggesting the high impact and interest of the coin investors.

The bulls are trying not to fall this time as the BTCUSD bullish continuation pattern reached an all-time high of $105,992 above the supply levels shortly after the commencement of the 4-hour chart today.

The market price of BTCUSD at a $105,992 supply level above the moving averages suggests an uptrend in the context of the strength of the market.

Thus, closing the 4-hourly session above the $105,787 prior resistance value will put the trade more on the buying side, driving future price movement in the crypto market.

Hence, the Bitcoin pair pointing up on the daily stochastic suggests that the price has the potential for a bullish continuation and suggests a possible recovery of the all-time target of $120k soon in the short-term forecast.

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