Bitcoin is currently hovering beneath the $105,000 mark, but some analysts believe the recent pause may be part of a much larger upward move.
After rebounding from its April low near $74,000, BTC has shown a disciplined climb in $10,000 increments—suggesting a well-formed bullish pattern is unfolding.
Technical signals point to Bitcoin moving within an ascending price channel, according to analysts monitoring the charts. If this pattern persists, projected resistance levels could extend to $114K, $124K, and potentially $134K before summer’s end. However, should the structure break down, support zones are expected near $94K and $84K.
Adding to the optimism, on-chain metrics also signal strength. The Cumulative Value Days Destroyed (CVDD) indicator—often used to identify market cycle extremes—indicates that BTC remains in an accumulation phase. Analyst Ali Martinez believes this could fuel a move toward $120K, provided the asset maintains support above $90K.
READ MORE:
How This Crypto Trader Turned $9,000 Into Millions in a Month
Bitcoin’s recent consolidation has followed a sharp rally driven by ETF inflows and margin liquidations, fueling speculation that a continuation pattern is forming. If confirmed, BTC could be on track for a significant breakout in the coming weeks.
Alexander Stefanov
