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Bitcoin soars to $109,000 for the first time in its history

Technical Analysis
By Shady Fouad
Bitcoin soars to $109,000 for the first time in its history
0 12

BTCUSD

البيتكوين 20-1-2025

Bitcoin is moving in an uptrend on the medium term, paving the way for price increases and the formation of new highs. However, if prices break below the $108,350 zone, a retest of the $102,500 support zone might occur during today’s trading session.

Support

 108350 102500 97500
Resistance 110000 110500

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Bitcoin witnessed a significant rise in value today, surpassing the $108,350 mark. This surge is driven by investor expectations of crypto-friendly policies from the new U.S. administration under Donald Trump, who has pledged to establish a strategic Bitcoin reserve in the United States.

From a technical perspective, the Relative Strength Index (RSI) indicates that Bitcoin has reached overbought levels, which may signal a potential price correction in the coming days. However, if the current bullish momentum persists, Bitcoin could break through historical resistance levels and achieve new highs.

Considering the fundamental factors, projections suggest that Bitcoin could reach levels between $150,000 and $185,000 by the end of 2025, supported by increased institutional adoption and government acceptance.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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