{"id":134995,"date":"2025-05-21T10:14:08","date_gmt":"2025-05-21T10:14:08","guid":{"rendered":"https:\/\/teknomers.com\/en\/bitcoin-price-forecast-wedge-forms-at-108k-will-btc-break-out\/"},"modified":"2025-05-21T10:14:08","modified_gmt":"2025-05-21T10:14:08","slug":"bitcoin-price-forecast-wedge-forms-at-108k-will-btc-break-out","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/bitcoin-price-forecast-wedge-forms-at-108k-will-btc-break-out\/","title":{"rendered":"Bitcoin Price Forecast: Wedge Forms at $108K\u2014Will BTC Break Out?"},"content":{"rendered":"

Bitcoin is currently trading at **$108,000**, reflecting a **1% increase** during the Asian session as **financial anxiety** propels interest in digital currencies. Robert Kiyosaki, author of “Rich Dad Poor Dad,” has voiced concerns about a potential **1929-style crash** following the recent downgrade of U.S. credit. He pointed out **rising interest rates**, escalating debt, and the student loan crisis as catalysts for impending economic turmoil.<\/p>\n

His advice:<\/strong> Investors should secure Bitcoin, along with **gold** and **silver**, as an effective form of protection against economic uncertainty.<\/p>\n

\n
\n
\n

MOODYS DOWN GRADE of US DEBT:
Q: What does a Moody\u2019s Downgrade mean?
A: It means Moodys, a credit rating agency, is warning the world the US is like a dead-beat dad who is spending borrowed money, without a job, and not taking care of his family.
Q: What else does a\u2026<\/p>\n

— Robert Kiyosaki (@theRealKiyosaki) May 20, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Renowned economist **Jim Rickards** described the **$1.6 trillion** student debt crisis as a **ticking time bomb**. Kiyosaki\u2019s endorsement continues to position Bitcoin as a strategic hedge against economic collapse, drawing the attention of both institutional and retail investors alike. Throughout periods of macroeconomic volatility, this narrative has played a crucial role in supporting Bitcoin prices, making Kiyosaki’s insights increasingly significant in today’s market.<\/p>\n

India & NYC in the Crypto Spotlight<\/span><\/h2>\n

In a significant legal development, the Supreme Court of India has urged the government to formulate laws governing cryptocurrencies. Justice **Surya Kant** noted that imposing a **30% tax** on digital assets like Bitcoin without clear regulations is contradictory and misleading.<\/p>\n

The court\u2019s intervention could catalyze the establishment of **supportive regulations**, potentially unlocking a new wave of **cryptocurrency adoption** in one of the world\u2019s largest untapped markets.<\/p>\n

\n
\n
\n

\"\u26a1\"BREAKING: India\u2019s Supreme Court calls for regulation of #Bitcoin<\/a> and crypto instead of a ban. \u201cIgnoring them is like denying reality.\u201d
A bold step for crypto in India! \"\ud83c\uddee\ud83c\uddf3\" pic.twitter.com\/Rjg4pzSyMv<\/a><\/p>\n

— Coin Bureau (@coinbureau) May 20, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

In New York, Mayor **Eric Adams** has initiated the **Crypto Advisory Council** at the NYC Crypto Summit, aiming to establish New York as the **crypto capital of the continent**. The council intends to explore the feasibility of **crypto payments for public services** and utilize **blockchain technology** for documentation purposes, backed by firms such as Scale and Figure. This mainstream embrace of blockchain may significantly boost **market sentiment** and lend long-term legitimacy to Bitcoin.<\/p>\n

\n
\n
\n

JUST IN: \"\ud83c\uddfa\ud83c\uddf8\" NYC Mayor Eric Adams says his goal is to make "New York City the crypto capital of the globe." pic.twitter.com\/EQHSxNESnQ<\/a><\/p>\n

— Watcher.Guru (@WatcherGuru) May 12, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Bitcoin Technical Analysis: Rising Wedge on the Hourly<\/span><\/h2>\n

From a technical standpoint, Bitcoin has surpassed the **$107,112** mark and is approaching the **$108,200** upper trendline of a rising wedge pattern. While this pattern is primarily seen as bullish, it could also signify a reversal in price movement.<\/p>\n

The current support level is at the **50-EMA** ($105,710), while the **MACD** indicates strong momentum with a bullish crossover. The candlestick patterns reflect robust buying activity with minimal upper wicks, suggesting aggressive investor interest. However, caution is advised; investors should remain vigilant for reversal indicators such as shooting stars or spinning tops.<\/p>\n

Trade Setup:<\/strong><\/p>\n