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Bitcoin price, which has been demonstrating strength over the past few days, laid a strong bullish case for the token. The crypto is continuing its strong uptrend after validating the breakout from a bullish pattern that has formed around $110,000. The price structure remains bullish, supported by previous retests and multiple continuation flags throughout the rally. Currently, the BTC price is now pressing just beneath the upper channel resistance, targeting a potential extension toward the $117,000 to $120,000.
The positive price action of Bitcoin is reflected across the broader crypto market, with altcoins also experiencing gains. The crypto fear & greed index hovers in the neutral zone but is close to entering, ‘Greed’ zone, indicating strong bullish sentiment. Besides, institutional demand, particularly from spot Bitcoin ETFs, remains a key driver. Additionally, the recent U.S.macroeconomic data, including a cooling inflation rate and anticipation of potential interest rate cuts, has created a favorable backdrop for risk assets, including Bitcoin.
Now the question arises, how high can the BTC price go in 2025?
The latest price action of Bitcoin appears to be extremely bullish, suggesting that the bulls have maintained a strong grip on the rally. Connecting the highs, the next crucial resistance to surpass is $112,917.33, which may trigger a strong rally in the coming days. The supertrend has turned bullish with the latest breakout, hinting towards the beginning of a strong bullish trend. On the other hand, RSI is forming consecutive higher highs and lows and eventually pushes the levels towards the upper threshold.
Therefore, the Bitcoin (BTC) price appears to be strongly within a bullish trajectory and hence is expected to maintain a strong ascending trend. However, the price is believed to consolidate for a while but eventually remains within a bullish influence.