Bitcoin uptrend has recorded a steady upward trend over the past week, marked by sharp fluctuations but underpinned by sustained bullish momentum. Despite these swings, the general trajectory since May 17 remains positive.
The current price action shows a sustained yet volatile uptrend, attracting closer analysis from technical and on-chain perspectives.
Bullish trend key support
One of the parties involved on May 19 was the analytic account IncomeSharks, which shared a daily chart showing a sustained climb within a clearly defined ascending channel. Since mid-April, the price action has consistently made higher highs and higher lows, showing continued support for the bullish trend.
The SuperTrend indicator has played a major role in tracking this progression. Displayed as a green line beneath the price, it sat at $96,240 at the time of IncomeSharks’ post.
The proximity to this SuperTrend value signals a key support level. The market’s reaction in the next 24 to 48 hours could determine whether the current uptrend continues or faces a temporary pullback.
The same indicator issued a buy signal on April 21, when Bitcoin ETFs traded near $96,000. This still acts as a crucial support. It also signalled the beginning of the current upward phase. Before that, in early April, the SuperTrend had flashed a sell signal, which coincided with a brief consolidation period and modest decline.
Meanwhile, the ascending channel has remained intact throughout this period, reflecting a consistent structure. Price movements have respected the channel’s boundaries, further confirming the ongoing strength in the trend.
The chart implies that Bitcoin will likely continue climbing, provided it stays within the ascending channel and holds above the SuperTrend support. Assuming the current structure remains valid, the visual projection aims for potential upside toward $112,000 to $120,000,
Structurally Sound Rally
A CryptoQuant analysis, Avocado, highlighted a key shift in Bitcoin’s recent price recovery. A rapid spike in Binance market buy volumes and funding rates marked previous rallies to new all-time highs.
These spikes triggered periods of overheating, followed by sharp corrections. According to Avocado’s assessment, this pattern occurred twice during the current cycle and is visible in historical charts 1 and 2.
However, the ongoing rebound diverges from this pattern. Box 3 on the chart shows that funding rates remain low and Binance market buy volumes are trending downward, not upward.
This development marks a change from prior surges. It suggests the market rebounds without the aggressive buyingbehaviourr that previously led to overbought conditions and subsequent corrections.
Since 2023, market buy volume has steadily increased despite short-term dips. This ongoing accumulation points to sustained demand.
While some may see the drop in sharp buying activity as a lack of momentum, Avocado interprets the data as indicative of a less leveraged and more structurally sound rally. Sentiment has improved following the rebound, but funding rates and volume patterns imply that traders remain cautious.
This change in behavior from prior rallies may reduce the likelihood of sudden reversals. The absence of overheated conditions supports the view that the market is not overextended.
Cyclical Bitcoin Surge
Another analyst has tracked a recurring cyclical relationship between Bitcoin and gold from mid-2024 to May 2025. A comparative chart highlights four distinct phases, during which gold rallies first, followed by Bitcoin. These phases—“Gold Leads” and “Bitcoin Catches Up”—repeat throughout the observed period.
Bitcoin appears to be in another catch-up phase, trailing gold’s latest move. Historically, Bitcoin’s behavior shows that it typically follows gold with a more aggressive rally. When this cycle occurs, the chart uses shaded zones to illustrate the alternating leadership between the two assets, underscoring the consistency of this pattern.
As of May 2025, both assets continue to climb. This alignment suggests the existing cycle remains intact. The comparative price action hints that Bitcoin may still have room to close the gap with gold, surging to levels above $140,000.
At press time, Bitcoin trades at $105,106, reflecting a 1.9% gain over the past 24 hours, a 2.4% increase over seven days, and an 11.3% rise in the last 14 days. Disclaimer
Final thoughts
Emphasizing both technical strength and better market behavior than past bull runs, the paper presents a cautiously hopeful assessment of Bitcoin Price increase. With the SuperTrend indicator offering dynamic support at $96, 240, it notes a clear uptrend supported by higher highs and lower lows within an ascending channel. This level is vital; exceeding it would boost estimates toward $112,000 to $120,000 and strengthen the bullish structure.
Unlike past rallies motivated by surges in leverage and aggressive buying—often resulting in hot markets and rapid corrections—this phase is characterized by low funding rates and declining Binance buy volumes. Although some may find this to be a lack of momentum, others see it as a sign of a more methodical, less speculative rally. This upswing may be more sustained if the market shows greater caution and less inclination to quick reversals.
