Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin continues to attack a key resistance zone below all-time highs.
\n\u201cParabolic\u201d BTC price talk begins to resurface as bulls hold six figures after the Wall Street open.
\nSigns of profit-taking are increasing amid the highest prices since January.<\/p>\n
Bitcoin (BTC) is attracting \u201cparabolic\u201d price targets as bulls continue to hold six figures on May 9.
\nBTC\/USD 1-hour chart. Source: Cointelegraph\/TradingViewBTC price in line for \u201ccrazy numbers\u201d
\nData from Cointelegraph Markets Pro and TradingView shows barely any consolidation taking place on BTC\/USD over the past 24 hours.
\nThe pair hit $104,332 on Bitstamp, marking its highest since the end of January and a clear departure from the slow downtrend in place for much of 2025.
\nReacting, market participants have begun to restore their faith in the broader Bitcoin bull market.
\n\u201cNovember 2024 monthly candle was the breakout signal on long-term charts,\u201d popular economist Aksel Kibar told X followers in his latest post.
\nAn accompanying chart compares November 2024 to similar \u201cbreakout\u201d events in the past, with Kibar reiterating his existing $137,000 target.
\nBTC\/USD 1-month chart. Source: Aksel Kibar\/XOthers, however, have far loftier expectations for BTC price action next. In particular, talk of \u201cparabolic\u201d upside has returned this month.<\/p>\n
Bitcoin is about to go parabolic.Don’t bet against history. pic.twitter.com\/NYJVexp0mM\u2014 Mister Crypto (@misterrcrypto) May 1, 2025<\/p>\n
\u201cBitcoin is going exponential,\u201d crypto entrepreneur and investor Jason Williams summarized as $100,000 returned.
\nTrader and analyst Matthew Hyland joined those forecasting new all-time highs in Q2 in his latest video update.
\n$160,000 or other \u201ccrazy numbers,\u201d he said, could come into play if bulls stay in control and a key leading indicator, the relative strength index (RSI), supports further upside.
\n\u201cI actually do think that there is a high chance that Bitcoin will end up breaking through these highs,\u201d he concluded.<\/p>\n
#BTC & #ETH Update: pic.twitter.com\/ovRS9pN0aj\u2014 Matthew Hyland (@MatthewHyland_) May 9, 2025<\/p>\n
Bitcoin halts progress at stubborn resistance Source: Cointelegraph.com NewsKey points: Bitcoin continues to attack a key resistance zone below all-time highs. \u201cParabolic\u201d BTC price talk begins to resurface as bulls hold six figures after the Wall… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128931"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128931"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128931\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128931"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOn shorter timeframes, popular trader Skew sounded the alarm over profit-taking being in full swing at $103,000, itself a key long-term resistance zone.
\nRelated: Bitcoin eyes sub-$100K liquidity \u2014 Watch these BTC price levels next
\n\u201cStarting to see some profits taking here, likely from a large trader. Passively selling BTC into price here & closing out longs,\u201d he explained on the day.
\n\u201cLogically makes sense given BTC is trading around HTF Supply & Resistance $103K – $104K.\u201d
\nBTC\/USD vs. S&P 500 1-day chart. Source: Cointelegraph\/TradingViewUS stock markets were flat at the Wall Street open, with Skew suggesting their behavior may spill over into crypto.
\n\u201cIn terms of current underlying flow, market remains correlated to tradfi so keep an eye on performance today into close,\u201d he added.
\nThis 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.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"