Looking at the weekly BTC chart, there’s a clear long-term resistance that dates back to 2017 and still hasn’t been broken convincingly. There’s plenty of talk this cycle about Bitcoin hitting 150k, just like there was hype around 100k in 2021.
In 2021, BTC formed a significant resistance, which was retested and confirmed in late 2024 and early 2025. Now the common line is: “This time is different. We have institutional money.” That’s true to an extent, but market psychology doesn’t change. Profit is profit. And when sentiment turns, even institutional and ETF-driven retail investors will take it.
BTC is still considered a speculative asset, and for good reason. It doesn’t generate income or yield — it’s only worth what someone else will pay for it.
Right now, BTC appears to be forming a bull flag, but if it can’t push past the 116k to 120k range with strength, I’ll be looking to short it on the way down.
If we get a strong breakout and hold above 120k, then, and only then, do I see a path toward a 150k top.
In 2021, BTC formed a significant resistance, which was retested and confirmed in late 2024 and early 2025. Now the common line is: “This time is different. We have institutional money.” That’s true to an extent, but market psychology doesn’t change. Profit is profit. And when sentiment turns, even institutional and ETF-driven retail investors will take it.
BTC is still considered a speculative asset, and for good reason. It doesn’t generate income or yield — it’s only worth what someone else will pay for it.
Right now, BTC appears to be forming a bull flag, but if it can’t push past the 116k to 120k range with strength, I’ll be looking to short it on the way down.
If we get a strong breakout and hold above 120k, then, and only then, do I see a path toward a 150k top.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.