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ToggleSome technical analyses and on-chain data suggest Bitcoin may be entering the most robust growth phase of the current cycle. With accumulation momentum still maintained and liquidity gradually tilting towards buyers, many experts believe BTC is approaching the "most explosive stage" with potential price targets reaching up to $140,000.
Key Points:
- Bitcoin price adjustment to $115,000 is feasible before continuing the upward trend.
- Bull flag indicates BTC price could rise 15% to a new high above $136,000.
Bitcoin (BTC) has been trading below the $120,000 threshold for most of the week – an area many analysts consider a significant short-term resistance. However, recent technical signals suggest BTC may be entering a healthy accumulation phase, forming a bull flag pattern – a setup typically signaling the continuation of an upward trend after a short correction period.
Bitcoin's Bull-flag Pattern Targeting $136,000, Even More
Bitcoin increased 14% between July 8 and 25, establishing a new all-time high near $123,000. Since then, the price has entered a correction phase, oscillating within a consolidation zone between the historical peak and support around $115,000. According to data from Cointelegraph Markets Pro and TradingView, BTC is currently trading in a bull flag pattern – a technical structure typically signaling a trend continuation.
Many analysts believe this could be a signal for the "final explosive stage" in the current cycle. The famous analysis account Titan of Crypto also noted on X (Twitter): "Bitcoin is forming an explosive bull flag, with a target aimed at $140,000."
A positive breakout from the bull flag could open the next step for Bitcoin, with technical targets estimated around $136,500 – equivalent to approximately a 15% increase from the current price.
Although the current bull flag is attracting attention, it's important to note that the success rate of this pattern is only around 54% – making it one of the least reliable continuation patterns in technical analysis.
However, another classic pattern is reinforcing the price appreciation prospects: Bitcoin analyst Merlijn The Trader discovered an inverted head and shoulders pattern on the three-day chart, setting a BTC price target of $140,000 based on this structure. "The breakout is real. The momentum is undeniable. 140K is the measured target," Merlijn emphasized in his analysis.
Bitcoin price forecasts continue to be diverse, reflecting different perspectives among analysts. Some predictions are more ambitious, such as a technical analyst who pointed out the Golden Cross on the daily chart, a signal typically preceding a strong upward trend and setting BTC price targets up to $155,000.
Meanwhile, famous trader Marcus Corvinus offered a more cautious view, predicting that a breakout from a symmetrical triangle would bring Bitcoin back around $125,000 – a price closer to the current accumulation zone.
Bitcoin May Adjust to Test Support Zone
After most selling liquidity was absorbed during the rise to $122,000, some analysts warn that Bitcoin might need a short correction to retest the support zone around $115,000 – a technical move that might be necessary before continuing the upward trend.
"Weekend low liquidity has been swept!" – famous analyst AlphaBTC shared, suggesting Bitcoin might slightly decrease to attract more liquidity around the $115,000 area. Data from BTC's liquidity map shows large buy orders concentrated between $115,000 and $116,100 – a potential support zone the market is watching. "Just a slight pullback is enough for the bull side to gain the necessary momentum to push prices higher again," AlphaBTC further noted.
Analyst Daan Crypto Trades noted that Bitcoin is currently stuck in a price zone close to its all-time high, with most trading volume concentrated around $118,000, the center of the current price range.
Daan recommends traders closely monitor two important levels: $115,000 serving as support and $121,000 as the nearest resistance zone. "Pay attention to these local highs and lows, as they could be targets for a potential liquidity sweep," he shared.
This article does not contain investment advice or recommendations. All investments and trades involve risks, and readers should conduct their own research when making decisions.
