A crypto in this weeks analysis!
Aksjeanalyser.com and Bjørn Inge Pettersen looks at a well-known cryptocurrency!
In this week’s Analysis Aksjeanalyser.com takes a closer look at Bitcoin (BTC/USD) and what the technical picture is signalling about its future development.
Technical Analysis of Bitcoin
(BTC/USD)
Bitcoin in the short term
Looking at Bitcoin in the short term, we see that it is moving within a steep rising trend, which started at the beginning of April 2025. In both March and April, Bitcoin tested the important technical support level around the 200-day moving average.
The support level at the 200-day moving average held and bitcoin has subsequently established a steep rising trend in the short term. Bitcoin has also broken above both the 50-day moving average and key technical resistance levels around USD 90,000 and USD 100,000.
These will now be important technical support levels to keep an eye on should there be a downward correction for Bitcoin.
The overall technical picture for Bitcoin is very positive right now and the currency is now testing the resistance level around the all-time high in the area around USD 107,000 – 110,000. A break above the USD 110,000 level will trigger very positive technical signals for the further development of Bitcoin in the short and medium term.
The long-term trend for Bitcoin
If we then look at the long-term trend, we see that Bitcoin, at the same time as it took off at the support level around the 200-day moving average, also took off at the lower trend line in the long-term positive trend within which it has moved since the end of 2022.
According to this long-term rising trend that Bitcoin is moving within, a potential for Bitcoin to reach up to around USD 140,000 – 160,000 over a 3-6 month period is indicated.
The BEST model in Vikingen is also in a buy signal for Bitcoin. This popular and effective technical analysis model was developed by Peter Östevik. He finalized the the BEST model around 2019, and after 30 years of experience in technical analysis and Vikingen Financial Software.
Significant potential for Bitcoin!
Based on this overall and now very positive technical picture that Bitcoin is showing, Aksjeanalyser.com would like to reiterate what we have written about in previous analyses of Bitcoin at Aksjeanalyser.com, and that we see a significant potential for Bitcoin further during the year and preferably to around USD 160,000 – 200,000 by the end of 2025.
What could potentially change the currently very positive technical picture of Bitcoin would be if the price were to fall back and below the currently important technical support levels at USD 100,000 and 90,000.
Aksjeanalyser.com foresees a break above the important USD 110,000 level as far more likely in the near future.
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