Date: Sun, May 25, 2025 | 07:05 PM GMT
The cryptocurrency market is cooling off slightly after a month of strong gains. Bitcoin (BTC) hit a fresh all-time high of $111,970 before retracing to $107,000, while Ethereum (ETH) touched $2,700 and is now hovering around $2,500.
With this mini pullback, BTC is trading in the red today after a 12% monthly rally, and now a potential emerging technical structure on the lower time frame could be the key to decoding its next move.
Harmonic Pattern Signals More Upside
On the 1-hour timeframe, BTC is forming a Bearish Cypher harmonic pattern — a technical setup that identifies high-probability reversal zones once the final leg, known as CD, completes. Until that point, the pattern typically supports short-term bullish momentum.
The pattern began on May 22, when BTC faced rejection near $111,959 (point X), triggering a sharp sell-off. The price dropped over 5%, bottoming out near $106,497 (point C) on May 25.
Since then, BTC has been rebounding, forming the CD leg of the Cypher. If the pattern completes, BTC could rally towards point D, projected near $110,790 — which corresponds to the 78.6% Fibonacci retracement of the XC leg. From the current price near $107,400, that suggests a potential 3.16% upside.
What’s Next for BTC?
The region around $110,790 is a critical zone to watch. As per harmonic pattern theory, this is a traditional reversal zone, where bearish pressure could return. If BTC breaks this resistance decisively, bulls may aim for a retest of the recent all-time high at $111,959 (point X) — an additional 4.16% potential move from current levels.
However, if the price struggles to break above $110,790, it could signal a short-term top. In such a scenario, BTC might enter a consolidation phase or see mild profit-taking before attempting another leg higher.
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