’We Love to See It’: Top Trader Issues Big Bitcoin Price Update

Published 01/05/2025, 16:11
Updated 01/05/2025, 21:15
’We Love to See It’: Top Trader Issues Big Bitcoin Price Update

U.Today - Bitcoin (BTC) is pressing higher this week - and trader DonAlt summed it up in four words: “We love to see it."

As of Thursday, BTC is trading around $95,650, up over 2% on the week. The price has steadily climbed from its weekly opening at $93,723, tapping a high near $95,815 so far. The chart is clear: buyers are in control.

The breakout above the $90,787 level last week put bulls back in the driver’s seat. This week’s candle is confirming that strength with a clean push higher, now approaching the major resistance zone between $104,485 and $108,000. That level marked the top earlier this cycle - and it has not been tested since.

So far, Bitcoin has respected the structure. The previous range highs have flipped into support, and price is marching higher with minimal drawdown. There is no parabolic move, no wild volatility - just steady, directional pressure. That in itself is a strong signal.

The question now is whether this momentum will continue through the rest of the week. If the market closed near its current levels this week, that would be impressive.

But if it breaks above $104,000, it wouls be a whole new situation. That would put BTC back into uncharted territory, with little in the way of resistance above.

On the other hand, rejection at this zone would not be surprising either. It is a logical place for profit-taking - and for late longs to get punished if they are too aggressive.

Still, Bitcoin is not showing signs of weakness right now. The trend is up, the structure is intact and the market is leaning bullish into the weekend. It is Thursday, and so far this weekly candle is doing exactly what the bulls needed. Clean, confident and pushing toward the year’s key level.

As DonAlt put it: we love to see it.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.