Bitcoin Price Forecast: Selling Pressure Rises Near All-Time Highs – Can BTC Make it to $140K?

At the time of writing, BTC is just 4.4% away from its all-time high of $109,114. However, selling pressure has increased as the top crypto nears what has been a key area of resistance twice already in the past six months.

Open interest in BTC futures is higher than it was back in January when the token reached its current all-time high as traders have jumped back into the market.

Crypto liquidations in the past 24 hours have been mixed as the market is struggling to find direction. Are conditions appropriate for a fresh all-time high? Back in December and January, when BTC made new highs, the post-election tailwind was still blowing hard.

Market conditions are quite different now as President Donald Trump has been pushing forward some aggressive trade policies that have threatened to derail the U.S. economy and have put the Federal Reserve’s monetary policy decisions on hold.

Despite these different conditions, market sentiment is supportive of an all-time high as the Fear and Greed Index sits at 68, which leans toward a Greedy market.

On January 20, when BTC reached $109K, the market’s attitude was actually neutral. So, conditions are even better at this point and have not yet reached extreme levels.

What Needs to Happen for BTC to Get to $140K?

For a few weeks now, we have been observing how one bullish historical pattern unfolds.

In our latest Bitcoin price prediction, we shared an ambitious target of $140,000 for the top crypto based on a strong buy signal that emerged after the 21-day exponential moving average (EMA) crossed above the 200-day EMA.

Back in October 2024, this signal was followed by a 68% rally that propelled Bitcoin to $106,000.

Meanwhile, since the most recent signal, the price has gained 13%. This is quite a mild gain compared to historical patterns and may suggest that BTC has much more in store. However, it needs to clear this key area of resistance ranging from $106,000 and $109,000 to keep the rally running for longer.

If we forecast a 50% gain as a result of this latest buy signal, it means that BTC could rise to at least $140,000 in the next couple of months.

Trading volumes yesterday were strong and exceeded the 14-day average during a session where the price action rejected a move above the $107,000 mark.

The price reached a session high of $107,140 and progressively declined to close the day at around $105,600.

RSI Has Reached Extreme Levels

Momentum indicators have reached extreme levels already and this increases the odds of a strong pullback, especially as BTC is nearing a key area of resistance.

However, as it tends to happen, the market could try to manipulate the significant liquidity that lies above BTC’s all-time high to trigger a short squeeze.

Such a move will likely be followed by a strong correction that flushes out the market’s excess leverage on bulls’ side to then resume the rally.

If that happens, BTC still has enough support areas to land including its short-term and long-term EMAs and the token’s second-best higher high at around $97,000.

The next few sessions will be critical to determine where the rally is heading. A bullish breakout above $106,000 will likely result in a new all-time high in the near term.

However, as momentum weakens, traders should make sure that they capitalize on this move rapidly as history suggests that volatility tends to increase at these extremes.