Bitcoin Ready for a Breakthrough: Technical Indicators Signal $150,000
Date: 2025-05-23 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Bitcoin has reached a new all-time high, settling at $111,544, which is 48% higher than the April low, when the price fell below $75,000. Such a rapid rise is accompanied by an increase in market capitalization to $2.2 trillion, as well as an increase in daily trading volume to $73.7 billion — significantly higher than the figures for previous days.
Particularly attracting the attention of traders is the increase in open interest in BTC futures, which reached $81.35 billion. For comparison: in early March, it was $46 billion. This indicates active participation of both institutional players and traders using margin trading, which strengthens confidence in the further growth of the asset.
From a technical perspective, there have been some important changes on the BTC/USDT chart. The 21-day EMA is now acting as support, whereas previously it was acting as resistance. Moreover, the so-called “golden cross” has occurred — the 50-day simple moving average has crossed the 200-day one, which is historically perceived as a strong bullish signal.
A similar technical pattern was observed in October 2024, after which the BTC rate rose by more than 37% in three months. If the scenario repeats itself, the next possible target will be around $153,600.
However, despite the positive trend, there is still a possibility of a short-term correction. The RSI and stochastic oscillator indicators point to the overbought zone, which may mean either a slowdown in the growth rate or consolidation in the near future.
Thus, the current technical picture and market data create a favorable environment for a possible continuation of the upward trend of Bitcoin, but with the proviso of possible short-term corrections.
