Bitcoin (BTC) Price Prediction Hinges On Two Critical Resistance Levels at $111,000 and $139,000

Bitcoin (BTC), the flagship crypto asset, presently trades above $104,000 following a significant 10.98% price rally in the last week.

Bitcoin (BTC) price movements have grabbed the attention of traders and investors alike as the premier crypto asset continues its uptrend. Despite facing some resistance at key price levels, BTC price action remains bullish.

In a recent analysis, crypto analyst Burak Kesmeci employed the Bitcoin Gold Ratio Multiplier to assess the next potential resistance levels for BTC. This multiplier gauges the relationship between BTC price and the value of gold, providing insights into market sentiment and price momentum.

According to the analysis, the Bitcoin Gold Ratio Multiplier suggests that the next major resistance level for BTC is around $111,000. This price point is determined by historical trading patterns and serves as a critical zone for investors to anticipate a potential price pullback.

However, if strong market catalysts, such as institutional demand, continue to drive the price rally, BTC may be able to push past this resistance and continue rising.

notably, this prediction implies that Bitcoin could have more potential to rise despite being recently rejected at $105,700. The current uptrend is likely to propel BTC past its current all-time high of $108,268, leading to uncharted price territories.

While $111,000 marks a critical short-term hurdle, the Bitcoin Gold Ratio Multiplier also identifies a long-term resistance at $139,000, depicted by a red trend line.

In this context, the red trend line signifies the boundary between the current bull market phase and a more explosive growth stage. According to Kesmeci, if BTC bulls can break past $139,000, the “real fun” will begin, indicating the possibility of a parabolic rally compared to previous price surges.