Prominent market analyst MichaelXBT predicts Bitcoin could breach long-term resistance, leading to what he calls the “breakout of the decade.”
Bitcoin’s price has experienced notable fluctuations recently, rising to a local peak of around $108,000 on June 30 before dropping back to around $105,000 by July 2.
However, as of today, Bitcoin’s price has rebounded to $107,888. This recovery follows a prediction of a long-term breakout from long-time trader Crypto Michael, who analyzed Bitcoin’s price movement over the past few years, in a weekly timeframe. His insights focus on an important resistance trend line that has impacted Bitcoin’s price performance since 2021.
The Resistance Line and Its Historical Significance
The trend line extends from a low point in 2021 and has been tested multiple times over the years. Each time Bitcoin has approached this line, it has struggled to break through. Notably, Michael described this trend line as one of the largest resistance lines in Bitcoin’s history.
The first test of this resistance took place on April 12, 2021, when Bitcoin’s price reached $64,962. Following this attempt, Bitcoin’s price dropped significantly, falling below $29,000 by June 21, 2021.
Bitcoin faced another rejection after testing the resistance again on November 8, 2021, when the price reached $69,035, before it dropped to around $15,000. These early failures at the trend line highlighted its strength as a barrier.
Recent Tests and Breakout Possibilities
Despite the previous setbacks, Bitcoin has continued to test the same resistance level. The next attempt occurred on December 16, 2024, when Bitcoin’s price broke above the resistance to touch $108,200.
However, the bullish momentum was short-lived, and another attempt on December 20 saw Bitcoin reach $109,300. Despite these fluctuations, Bitcoin continued to test the resistance, and on May 19, 2025, Bitcoin briefly hit its all-time high of $111,800, although it was rejected there by the same trendline.
Michael believes that once Bitcoin breaks through its key resistance trend-line, those sidelined in the market could miss out on what could be the “breakout of the decade.”
Interestingly, the analyst agreed with a commenter who noted that many traders have lost hope, which only makes him more bullish on Bitcoin’s future. According to the commenter, this typical market behavior suggests that while the everyday trader may be fearful, the market is setting up for a substantial upward run.
Where is Bitcoin Headed
At the same time, The Crypto Basic recently called attention to an analyst who provided a timeline for Bitcoin to reach specific levels. Leo Heart’s analysis uses a rainbow logarithmic regression model to project Bitcoin’s price following each halving event, indicating significant post-halving increases.
Based on this model, Bitcoin’s price by 2029 is projected to range between $122,372 and $509,090. Heart predicts Bitcoin will remain below $120,000 until the end of 2028, with a price range of $137,000 to $165,000 by the end of 2025.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
