Bitcoin prices struggled to maintain their momentum in 2024 in the first quarter of 2025, collapsed under US macroeconomic uncertainty. The crypto market appeared to be set to continue struggling in early April, but prices are trying to regain the best of cycle thanks to improved market conditions.
Recent Price Action data shows that Bitcoin prices have risen by more than 25% this quarter to date, surpassing most large assets in the same period. Interestingly, the best cryptocurrencies seem to have more room for further gains as the highest ever-growing price appears to be the next immediate target.
Three important levels to watch this second quarter
In a May 17 post on the X Platform, on-chain analyst Burak Kesmeci assessed the potential for Bitcoin prices for the remainder of this second quarter. In his latest analysis, Crypto Pundit uncovered three key levels for BTC’s price trajectory.
The relevant indicator here is the golden multiplier ratio, which helps primarily track periodic price actions and identify important price levels. This technical analysis tool applies a Fibonacci-based multiplier to a 350-day moving average (350DMA) to identify top and bottom of potential prices.
Kesmeci has identified the $127,000 and $159,000 levels of resistance to watch in this Bull Rally. Specifically, the $127,000 level coincides with the 1.6x multiplier for a 350-day travel Averages that served as a The mid-cycle top of the previous Bull Run.
Source: @burak_kesmeci on XMeanwhile, the $159,000 level is correlated with a double multiplier of 350DMA, indicating historically the top of the cycle In the BTC market. However, Bitcoin prices must successfully violate the mid-cycle top if there is a chance of meetings towards the $159,000 level.
Additionally, Kesmeci has identified the most important support levels to monitor Bitcoin prices for the remainder of the second quarter of this year. Based on the golden multiplier ratio, this cushion is at $80,000 on a 350-day moving average where long-term accumulation is usually occurring. Falling under this support could invalidate the bullish theory currently held at BTC prices.
Ultimately, Kesmeci noted that the golden multiplier ratio is based on a moving average, and as a result, the highlighted levels will be affected by changes as Bitcoin prices move in the coming days.
Bitcoin price at a glance
At the time of writing, BTC is worth around $103,275, and there have been no major price transfers in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
ISTOCK featured images, TradingView chart
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