{"id":28457,"date":"2025-05-25T05:01:41","date_gmt":"2025-05-25T05:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28457"},"modified":"2025-05-25T05:01:41","modified_gmt":"2025-05-25T05:01:41","slug":"can-bitcoin-price-sustain-its-bullish-momentum-analyst-identifies-local-top-at-113k","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28457","title":{"rendered":"Can Bitcoin Price Sustain Its Bullish Momentum? Analyst Identifies Local Top At $113K"},"content":{"rendered":"
\n

The Bitcoin price performance has been outstanding over the past week, achieving a new all-time high. In the late hours of Thursday, May 22, the premier cryptocurrency reached a fresh record-high price of $111,807.<\/p>\n

While the value of BTC has witnessed a significant correction in the last 24 hours, the market-wide sentiment is positive as investors expect the coin\u2019s price to forge on. However, historical price action data suggest that the Bitcoin price might cool off<\/a> for a while before resuming its upward rally.<\/p>\n

Once BTC Local Top Is In, Altseason Is Next: Analyst<\/b><\/h2>\n

In a recent post on the social media platform X,\u00a0 crypto analyst Joao Wedson pinpointed<\/a> a potential local top for the Bitcoin price around $113,000 and $114,000 in the coming days. The on-chain analyst highlighted two primary reasons why the market leader\u2019s bullish momentum might wane in the short term.<\/p>\n

Firstly, this bearish projection revolves around the appearance of a long-term trendline on the daily BTC chart. As observed in the chart below, the trendline acts as a resistance level for the Bitcoin price, precipitating multiple rejections since early 2021.<\/p>\n

\"Bitcoin<\/p>\n

Additionally, the 2021 cycle top (and then all-time-high price) around $69,000 came about after reaching this long-term trendline. Most recently, Bitcoin\u2019s previous all-time-high price of $108,786 culminated around this long-term resistance level.<\/p>\n

Wedson also noted that the Bitcoin Aggregated Liquidation Levels Heatmap supports the $113,000 \u2013 $114,000 local top theory. According to the liquidation data, the Bitcoin price has suffered a pullback around the $110,000 level over the past six months.<\/p>\n

Most interestingly, Wedson pointed out that altcoins could surge back<\/a> to life in the months following the price of Bitcoin reaching its top. While Bitcoin\u2019s dominance was experiencing a correction in the past week, the metric received a major boost after the price performance of BTC in the last few days.<\/p>\n

The talk of an altcoin season<\/a> has always been in the crypto air since the start of 2025, especially with the price of Bitcoin seemingly reaching a cycle high (at the time). However, the altseason appears to be more of a fantastical idea, as the world\u2019s largest cryptocurrency continues to lead the pack by a significant mile.<\/p>\n

Bitcoin Price At A Glance<\/b><\/h2>\n

The price of Bitcoin fell beneath the $109,000 level in the late hours of Friday in what looked like a reaction to United States President Donald Trump\u2019s tariff threat on European Union goods. As of this writing, the flagship cryptocurrency is valued at around $108,500, with a 2.3% price decline in the last 24 hours.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price performance has been outstanding over the past week, achieving a new all-time high. In the late hours of Thursday, May 22, the premier cryptocurrency reached a fresh record-high price of $111,807. While the value of BTC has witnessed a significant correction in the last 24 hours, the market-wide sentiment is positive as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28457","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28457"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28457\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}