Saad Ullah
Bitcoin's been on quite the ride lately, and it looks like the party's far from over. While some folks might be wondering if we've hit a ceiling around $105K, the technical picture tells a different story. Analysts are actually getting more bullish, not less, as BTC holds its ground above this crucial level and sets up for what could be another explosive move higher.
Bitcoin (BTC) Structure Points to More Gains, Not a Reversal
Here's what's got the technical analysts excited: Bitcoin's current price action doesn't look anything like what you'd expect to see at a major top. According to Aksel Kibar, CMT, who recently broke this down on X, the setup we're seeing now actually screams "continuation" rather than reversal.
Looking at the monthly chart, BTC is chilling above $105,000 and basically just taking a breather before what could be a monster breakout to $137K. This isn't some wild guess either – it's based on how Bitcoin has behaved in previous cycles.
The pattern's pretty clear when you zoom out. Bitcoin broke out from $3.9K, then $11.2K, then $20K, eventually hitting $73.7K before entering its next accumulation phase. Each time, there were these "minor highs" that looked scary in the moment but turned out to be just pit stops on the way to much bigger numbers.
Bitcoin (BTC) Could Hit $137K Based on Historical Patterns
Here's where it gets really interesting. If you look at Bitcoin's breakout candles from 2015, 2020, and 2023, there's this recurring pattern that keeps showing up. It's like Bitcoin has its own playbook, and right now we're sitting at the part where things usually get really exciting.
The $137,000 target isn't just some random number thrown around on crypto Twitter. It's based on these historical breakout patterns that have been remarkably consistent over the years. And here's the kicker – there's no major resistance sitting between where we are now and that target level.
Bitcoin's currently trading around $105K, which puts it in a pretty sweet spot. As long as this level holds up (and so far it's been rock solid), the technical setup suggests we could see another major push higher. The bulls are basically saying "show us a reason to sell," and the charts aren't giving them one.
Saad Ullah
