{"id":20912,"date":"2025-05-21T09:12:19","date_gmt":"2025-05-21T09:12:19","guid":{"rendered":"https:\/\/gold.creditcard\/bitcoin-blow-off-top-set-at-128k-with-new-all-time-highs-in-sight\/"},"modified":"2025-05-21T09:12:19","modified_gmt":"2025-05-21T09:12:19","slug":"bitcoin-blow-off-top-set-at-128k-with-new-all-time-highs-in-sight","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/bitcoin-blow-off-top-set-at-128k-with-new-all-time-highs-in-sight\/","title":{"rendered":"Bitcoin 'blow-off top' set at $128K with new all-time highs in sight"},"content":{"rendered":"

Key points:<\/strong><\/p>\n

Bitcoin tags $108,000 for the first time since the day of its current all-time highs in January.<\/p>\n

Traders and analysts mention support extending toward $90,000, but the probability of a retest is fading.<\/p>\n

Near-term upside targets include a \u201cblow-off top\u201d at $128,000.<\/p>\n

Bitcoin (BTC<\/a>) spiked to more than $108,000 on May 21, marking new four-month highs. Where will BTC\/USD go next?<\/p>\n

Crypto traders and analysts are lining up their forecasts with BTC price action less than 1.5% away from new all-time highs.<\/p>\n

BTC price support test now \u201cless likely\u201d<\/h2>\n

Bitcoin continues to coil below what is now its most significant psychological resistance barrier, January\u2019s all-time highs<\/a>.<\/p>\n

BTC\/USD 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n

At $109,356 on Bitstamp, per data from\u00a0Cointelegraph Markets Pro<\/a>\u00a0and\u00a0TradingView<\/a>, that seminal line in the sand is what bulls are attempting to bring back into play this week.<\/p>\n

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.<\/p>\n

GM \ud83e\udd42$BTC<\/a> shorted. pic.twitter.com\/nVfYKuNhu1<\/a><\/p>\n

\u2014 BrutalBTC (@BrutalBtc) May 21, 2025<\/a><\/p>\n

Order book liquidity data from monitoring resource CoinGlass<\/a> showed thickening bid support just below $106,000 at the time of writing.<\/p>\n

BTC liquidation heatmap (screenshot). Source: CoinGlass<\/em><\/p>\n

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.<\/p>\n

The highest of these, the 21-day MA, stood at $101,640 on the day.<\/p>\n

\u201cThe 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,\u201d he wrote in his latest post on X<\/a>.\u00a0<\/p>\n

\u201cYou can\u2019t really ask for stronger technical support than that.\u201d<\/p>\n

Alan argued that a deeper retracement to support would strengthen Bitcoin\u2019s overall recovery and help boost the odds of holding higher levels going forward.<\/p>\n

\u201cI\u2019d personally consider a dump to that level a gift, but at this point I don\u2019t think it\u2019s 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\u2019ve been looking for,\u201d he concluded.\u00a0<\/p>\n

\u201cWhether BTC retests $100k or not, I\u2019m happy to see consolidation in this range before the next leg up.\u201dBTC\/USD 1-day chart. Source: Keith Alan\/X<\/em><\/p>\n

Traders expect Bitcoin to go toward $128,000 next<\/h2>\n

Crypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe held similar views on support levels to hold.<\/p>\n

Related: <\/strong><\/em>Sorry bears \u2014 Bitcoin analysis dismisses $107K BTC price double top<\/strong><\/em><\/a><\/p>\n

Both $91,800 and $100,700 feature in his latest analysis, with the latter described as a \u201cpoint of interest.\u201d<\/p>\n

\u201cIt\u2019s always a good morning with Bitcoin at $108,000 and close to a new ATH,\u201d he summarized<\/a>.<\/p>\n

BTC\/USDT 12-hour chart with RSI data. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n

In a separate X post<\/a>, Van de Poppe said that new all-time highs were approaching \u201cfaster than he expected.\u201d<\/p>\n

$120,000, he said, was one of several \u201cimminent\u201d targets extending up to $200,000.<\/p>\n

Elsewhere, trader Merlijn agreed with $116,000 as the next short-term BTC price target<\/a>, seeing BTC\/USD \u201cexploding\u201d out of a consolidation pennant.\u00a0<\/p>\n

MASSIVE BULLISH BITCOIN PENNANT BREAKOUT!$BTC<\/a> coiled for days now it\u2019s exploding.<\/p>\n

This pennant points to $116K\u2026 and it\u2019s just getting started.<\/p>\n

Ride the wave or watch it fly. pic.twitter.com\/lyox33TJp4<\/a><\/p>\n

\u2014 Merlijn The Trader (@MerlijnTrader) May 21, 2025<\/a><\/p>\n

Fellow trader Henry upped the target to $128,000 as a \u201cblow-off top\u201d while identifying support areas at $105,000 and $96,000.<\/p>\n

BTC\/USD 1-day chart. Source: Henry\/X<\/em><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>","protected":false},"excerpt":{"rendered":"

Key points: Bitcoin tags $108,000 for the first time since the day of its current all-time highs in January. Traders and analysts mention support extending toward $90,000, but the probability of a retest is fading. Near-term upside targets include a \u201cblow-off top\u201d at $128,000. Bitcoin (BTC) spiked to more than $108,000 on May 21, marking […]<\/p>","protected":false},"author":0,"featured_media":20913,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=20912"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/20913"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=20912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=20912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=20912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}