Bitcoin: The Universe’s Most Unpredictable Rollercoaster 🚀

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Key points (or should we say, key guesses? 🤔):

  • Bitcoin has finally decided to wake up from its slumber and tag $108,000 for the first time since January. Because, why not? 🤷‍♂️

  • Traders and analysts are frantically waving their arms, shouting about support levels extending toward $90,000, but let’s be real, who knows what’s going to happen next? 🤷‍♂️

  • Near-term upside targets include a “blow-off top” at $128,000, because why settle for anything less? 🚀

Bitcoin (BTC) has spiked to more than $108,000 on May 21, marking new four-month highs — and we’re all just along for the ride 🎠. Where will BTC/USD go next? Your guess is as good as mine 🤔.

Crypto traders and analysts are lining up their forecasts with BTC price action less than 1.5% away from new all-time highs. It’s like they’re trying to predict the unpredictable 🤯.

BTC price support test now “less likely” (but don’t quote me on that 🤷‍♂️)

Bitcoin continues to coil below what is now its most significant psychological resistance barrier — January’s all-time highs. It’s like it’s trying to decide whether to go up or down 🤔.

At $109,356 on Bitstamp, per data from CryptoMoon Markets Pro and TradingView, that seminal line in the sand is what bulls are attempting to bring back into play this week. Good luck with that 🤞.

Volatility is picking up — BTC/USD dropped almost $1,000 in minutes following its move past $108,000, with traders attempting to position around the spot price. It’s like a game of musical chairs, but with more money 💸.

GM 🥂$BTC shorted.

— BrutalBTC (@BrutalBtc) May 21, 2025

Order book liquidity data from monitoring resource CoinGlass showed thickening bid support just below $106,000 at the time of writing. Because, you know, that’s exactly what we needed more of — bid support 🙄.

Commenting, Keith Alan, co-founder of trading resource Material Indicators, highlighted several moving averages (MAs), the $100,000 mark, and the 2025 yearly open as potential long-term support retest zones. Because, why not? 🤷‍♂️

“The 50-Day MA is on a trajectory to Golden Cross with the 200-Day MA in a tight range that has confluence with the Trend Line AND the 2025 YO,” he wrote in part of his latest post on X. Because, you know, that’s exactly what we needed more of — technical jargon 🤯.

“You can’t really ask for stronger technical support than that.”

Alan argued that a deeper retracement to support would strengthen Bitcoin’s overall recovery and help boost the odds of holding higher levels going forward. But let’s be real, who knows what’s going to happen next? 🤷‍♂️

“I’d personally consider a dump to that level a gift, but at this point I don’t think it’s a likely one. In fact the further the 21-Day MA (green) gets from $100k, the less likely we are to get the support test I’ve been looking for,” he concluded. Because, you know, that’s exactly what we needed more of — uncertainty 🤔.

“Whether BTC retests $100k or not, I’m happy to see consolidation in this range before the next leg up.”

Traders expect Bitcoin to go toward $128,000 next (but don’t hold your breath 🤣)

Crypto trader, analyst and entrepreneur Michaël van de Poppe held similar views on support levels to hold. Because, why not? 🤷‍♂️

Both $91,800 and $100,700 feature in his latest analysis, with the latter described as a “point of interest.” Because, you know, that’s exactly what we needed more of — points of interest 🤔.

“It’s always a good morning with Bitcoin at $108,000 and close to a new ATH,” he summarized on the day. Because, why not? 🌞

In a separate X post, Van de Poppe said that new all-time highs were approaching “faster than he expected.” Because, you know, that’s exactly what we needed more of — unexpected twists 🤯.

$120,000, he argued, was one of several “imminent” targets extending up to $200,000. Because, why settle for anything less? 🚀

Elsewhere, popular trader Merlijn agreed with $116,000 as the next short-term BTC price target, seeing BTC/USD “exploding” out of a consolidation pennant. Because, you know, that’s exactly what we needed more of — explosions 🎉.

MASSIVE BULLISH BITCOIN PENNANT BREAKOUT!$BTC coiled for days now it’s exploding.

This pennant points to $116K… and it’s just getting started.

Ride the wave or watch it fly.

— Merlijn The Trader (@MerlijnTrader) May 21, 2025

Fellow trader Henry meanwhile upped the target to $128,000 as a “blow-off top” while also identifying support areas at $105,000 and $96,000. Because, why not? 🤷‍♂️

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2025-05-21 12:52