Is Bitcoin about to go parabolic? BTC price targets include $160K next

Bitcoin is currently encountering significant resistance near its all-time highs. Enthusiasm surrounding "parabolic" price movements is increasing as Bitcoin holds above six figures. Signs of profit-taking are becoming evident at these elevated price levels, reminiscent of January's peak. Bitcoin's recent surge has sparked renewed bullish sentiment within the market. Analysts are pointing to the November 2024 monthly candle as a long-term breakout signal. Some predict further gains, including a target of $137,000. "Parabolic" price predictions are circulating, suggesting even greater upside potential. Several analysts anticipate new all-time highs in the coming months, possibly reaching $160,000 or beyond. Meanwhile, short-term traders are taking profits, with a key resistance zone between $103,000 and $104,000. The behavior of US stock markets may influence Bitcoin's price movement.