Crypto analyst Ali Martinez has projected a potential market top for Bitcoin at $120,000, provided the cryptocurrency maintains strong support at the $90,000 level.
Martinez, known for his data-driven market insights, highlighted this outlook in a recent post on X, pointing to technical indicators and market momentum as key drivers behind the forecast.
The prediction comes despite a slight drop in Bitcoin prices. At the press time, the OG-crypto is trading at $102,910.83, down 0.86% as compared to the same time last day.
Martinez Points At Bitcoin’s Critical Level
According to Martinez, the $90,000 support zone is critical in sustaining Bitcoin’s current bullish trajectory.
If this level holds during future corrections or consolidations, it could pave the way for a continued upward move, potentially pushing BTC to new all-time highs around $120,000.
He noted that maintaining this support would signal strong investor confidence and increased accumulation by both retail and institutional players.
However, a decisive breakdown below the $90,000 mark could invalidate the bullish setup and trigger a more significant correction for Bitcoin.
As always in crypto markets, investor sentiment, on-chain data, and macroeconomic conditions will be key factors in whether Bitcoin can meet or exceed these targets.
Bitcoin Could Hold $103K as May Indicators Signal Bullish Momentum
Bitcoin’s market indicators for May 2025 point to an optimistic future. BTC will likely hold the $103,000 mark if the current sentiment continues.
A “bull cross” pattern seen by technical analysis suggests the possibility of a significant rise. The Moving Average Convergence Divergence (MACD) has turned negative, signaling potential short-term corrections, and the Relative Strength Index (RSI) is at 80%, indicating overbought circumstances.
Notwithstanding these indications, institutional investments and advantageous macroeconomic conditions support the general market sentiment, which is still bullish.
Bitcoin Current Price Shows Resilience
Bitcoin (BTC) is currently trading at about $102,910.83 as of May 17, 2025, a minor decrease of 0.82% from the previous closing. The intraday high and low of the coin were $104,275 and $102,796, respectively.
Since surpassing the $100,000 threshold, the price of Bitcoin has remained stable with very little variation. According to experts, it may soon rise above $120,000, pointing to a sustained upward trend in 2025.
Bitcoin is currently exhibiting moderate volatility, according to market observers, with derivatives maintaining the price between $100,000 and $105,000. It is believed that this stability portends future breakout possibilities.
All things considered, Bitcoin’s price stability and market indications point to a promising future with room to develop.