Trader and analyst Matthew Hyland joined those forecasting new all-time highs in Q2 in his latest video update.$160,000 or other “crazy numbers,” he said, could come into play if bulls stay in control and a key leading indicator, the relative strength index (RSI), supports further upside.“I actually do think that there is a high chance that Bitcoin will end up breaking through these highs,” he concluded.#BTC & #ETH Update: pic.twitter.com/ovRS9pN0aj— Matthew Hyland (@MatthewHyland_) May 9, 2025Bitcoin halts progress at stubborn resistanceOn shorter timeframes, popular trader Skew sounded the alarm over profit-taking being in full swing at $103,000, itself a key long-term resistance zone.
Reacting, market participants have begun to restore their faith in the broader Bitcoin bull market.“November 2024 monthly candle was the breakout signal on long-term charts,” popular economist Aksel Kibar told X followers in his latest post.
Source: Cointelegraph/TradingViewUS stock markets were flat at the Wall Street open, with Skew suggesting their behavior may spill over into crypto.“In terms of current underlying flow, market remains correlated to tradfi so keep an eye on performance today into close,” he added.
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Author / Journalist: Cointelegraph by William Suberg
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