Bitcoin prices have achieved excellent highest highs over the past week. Late on Thursday, May 22, Premier Cryptocurrency has reached a new record price of $ 111,807.
The value of the BTC has seen significant modifications in the last 24 hours, but the emotions of the entire market are positive as investors expect the price of coins to be forged. However, according to historical price behavior data, Bitcoin prices can be cold for a while before resuming the rally.
When it becomes a BTC local top, Altseason is: Analyst: Analyst
In a recent post by Social Media Platform X, Joao Wedson, an encryption analyst, pointed out the potential region for the price of about $ 113,000 and $ 114,000. The warm -chain analyst emphasized the two main reasons why the market leader’s strong momentum could disappear in the short term.
First, this weak projection is focused on the appearance of long -term trend lines on the BTC chart every day. As observed in the chart below, the trend line acts as a resistance to Bitcoin price, promoting multiple rejection after early 2021.
Source: @joao_wedson on XIn addition, after reaching this long -term trend line, the 2021 cycle tower (and the highest price ever) reached about $ 69,000. Most recently, Bitcoin’s maximum $ 108,786 has peaked at this long -term resistance level.
WEDSON also mentioned that Bitcoin’s liquidation level Heatmap supports the highest theory of $ 113,000- $ 114,000. According to the liquidation data, the price of bitcoin has fallen over $ 110,000 over the last six months.
Interestingly, Wedson pointed out that altcoins could go back to life for several months after Bitcoin’s price reached its top. Bitcoin’s dominance has experienced correction last week, but this indicator has been boosted for the last few days.
The story of the Altcoin season has always been in cryptocurrency since early 2025, especially the price of Bitcoin (at that time). But altseason appears to be a fantastic idea because the world’s largest cryptocurrency continues to lead the pack.
Bitcoin price at a glance
The price of Bitcoin fell below $ 109,000 late on Friday. At the time of this article, the flagship cryptocurrency value is about $ 108,500, and the price of 2.3%falls over the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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