Bitcoin Nears All-Time High, Faces Resistance at $115K and $223K
Bitcoin is poised for fresh all-time highs after closing the week at around $109,240. Traders target buy liquidity near $105,000, aligned with the 50-day EMA, while on-chain data shows major sell-side liquidity at $110,000 and buy support around $107,800. Declining Binance funding rates point to growing short interest and a potential short squeeze. A soft US dollar, US tariff talks and pending Fed minutes add macro tailwinds. Investor sentiment remains in extreme greed, with a successful defense of $108,000 support expected to fuel a rapid rally. Technical analysis now highlights two trendline resistance levels: roughly $115,300 on a linear scale and about $223,000 on a log scale, based on the 2017 and 2021 highs. Traders should monitor these resistance points for signs of profit-taking or breakout continuation.
Bullish
The combined news highlights strong on-chain liquidity zones, declining funding rates and supportive macro factors that underpin bullish momentum. Short-term buying interest around $105K–$108K and a potential short squeeze could drive prices toward the first resistance at $115K. A successful breach there may signal continuation toward the higher log-scale barrier near $223K. While trendline resistance levels suggest caution near those points, the overall signals point to sustained upside pressure on Bitcoin.