Bitcoin may be poised for what one seasoned analyst calls the “breakout of the decade,” as it once again approaches a crucial long-term resistance level. Recent price action has sparked renewed optimism among technical analysts, with some suggesting that the current market structure bears resemblance to past setups that preceded major bull runs.
As of July 24, Bitcoin is trading just under $108,000 after rebounding from recent lows around $105,000. This resurgence follows weeks of fluctuating momentum and has reignited debate around whether Bitcoin is ready to push beyond a resistance level that has capped its growth for years. For anyone tracking bitcoin news today, the latest technical forecasts offer compelling insights into Bitcoin’s next potential move.
Bitcoin approaches major resistance with renewed strength
Renowned market commentator MichaelXBT, also known as Crypto Michael, has identified a multi-year resistance trend line that has repeatedly suppressed Bitcoin’s price growth since 2021. Analyzing the asset’s performance on a weekly timeframe, Michael emphasizes the historical importance of this line, noting its role in Bitcoin’s most significant reversals.
This particular resistance level was first tested on April 12, 2021, when Bitcoin hit $64,962. The market responded with a sharp correction, dragging the price below $29,000 just over two months later. A second major attempt followed on November 8, 2021, with Bitcoin reaching its all-time high of $69,035, only to crash down to $15,000 in subsequent months.
Despite these setbacks, Bitcoin has persistently returned to test this resistance. In December 2024, the asset briefly breached the level, climbing to $108,200 and again to $109,300 just days later. These short-lived breakouts, while not sustained, show Bitcoin’s increasing strength and determination to overcome historical barriers.
On May 19, 2025, Bitcoin registered another major attempt, reaching $111,800. However, it once again faced rejection at the trendline, further confirming the line’s strength and psychological significance.
Analyst sees massive potential if resistance breaks
Crypto Michael argues that if Bitcoin can decisively push past this key level, it could ignite a massive rally. In his view, those waiting on the sidelines risk missing what could be a transformative phase for Bitcoin. Labeling the potential move as the “breakout of the decade,” he points to growing market fatigue as a sign that a shift may be near.
He echoed sentiments shared by a follower who observed that many traders have become increasingly pessimistic, an environment that historically precedes significant upside moves. According to Michael, the prevailing skepticism may actually serve as a bullish indicator.
As highlighted by The Crypto Basic, market cycles often involve a phase where investor confidence wanes just before a major breakout occurs. The publication recently featured a separate analysis by Leo Heart, who uses a rainbow logarithmic regression model to predict Bitcoin’s long-term trajectory.
Long-term outlook suggests significant growth ahead
Leo Heart’s model, which tracks Bitcoin’s historical performance relative to halving cycles, predicts that Bitcoin will remain under $120,000 until late 2028. However, his projections become significantly more bullish after that point, with prices estimated to range between $122,372 and $509,090 by 2029.
In the shorter term, Heart anticipates that Bitcoin could reach between $137,000 and $165,000 by the end of 2025, aligning with a common post-halving pattern of gradual growth followed by exponential gains.
This long-term framework adds further credibility to the idea that the current consolidation phase may be setting the stage for an explosive rally, especially if the multi-year resistance line is finally broken.
While Bitcoin’s past encounters with resistance have resulted in sharp pullbacks, its repeated challenges of this level in 2024 and 2025 show a growing resolve. With analysts like Crypto Michael highlighting the significance of this technical setup, and long-range models pointing to substantial price appreciation, the coming months could be pivotal for Bitcoin’s market trajectory.
As investor sentiment remains mixed, seasoned traders are watching closely for signs of a confirmed breakout, one that could mark the beginning of Bitcoin’s next historic run.
