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Is Bitcoin's Next Stop $140K? Analysts Predict Huge Price Surge After Breakout Confirmation

Analysts Predict Bitcoin Can Break $140K With Bullish Patterns and Supply on Exchanges Drying Up

Written By : Kelvin Munene
Reviewed By : Sankha Ghosh

This week, Bitcoin price continued its steady climb to a new all-time high, with several bullish indicators evident across both technical and on-chain metrics. BTC traded near $111,000, but the volume and momentum indicators showed a consolidative break in its uptrend.

Bullish Chart Patterns Suggest Strong Upside Potential

Market analyst Jelle has revealed that Bitcoin has confirmed a breakout on a bullish pennant pattern. When a narrowing consolidation follows a steep upward trend, the previous trend is likely to continue. In their analysis, Jelle predicted that the potential target could reach $150,000 when the breakout holds. A positive retest of the breakout zone strengthened the validity of the pattern in favor of the continuation thesis.

Analyst Merlijn The Trader added that the cryptocurrency's current market structure resembles the 2013–2017 cycle. According to the chart shared, BTC has completed an ABC correction followed by a breakout retest, a pattern often associated with renewed bullish rallies in past cycles.

ETF Chart Confirms Bull Flag Breakout and Points to Rally

Omkar Godbole, a Chartered Market Technician, observed that BlackRock’s IBIT ETF, which mirrors the spot Bitcoin price, confirmed a bull flag breakout. The price briefly surpassed its May high and resumed its broader uptrend from April. Flags are considered continuation patterns, and this setup projects a further 30% upside for IBIT and, by extension, Bitcoin.

According to the ETF's performance, Bitcoin may reach approximately $140,000, provided that the measured move technique is implemented. Veteran Peter Brandt also found a similar formation on the BTC spot chart, indicating a renewed rally phase.

Meanwhile, Titan of Crypto observed one possible timing signal using the US election cycles. Historically, bitcoin has topped around 53 weeks after presidential elections. At 36 weeks after the last election (November 2024), the next 17 weeks would coincide with any possible cycle peak, if patterns remain consistent.

Also Read: How to Use Deepseek to Predict Bitcoin Prices: An Easy Guide

Exchange Supply Drops and Momentum Remains Intact

On-chain data has supported the bullish narrative. CryptoQuant contributor Chairman Lee argued that the Bitcoin exchange reserves have fallen to 2.4 million BTC, the lowest level in several years. This implies that holders who keep their tokens for the long term are withdrawing them from the exchanges, reducing liquidity, and thus contributing to the downward pressure on liquidity in the price.

The momentum indicators continue to favor the buyers. The MACD and momentum (10) indicators are moving towards positive buying interest. Additionally, the 10-period EMA and the 200-period SMA, the largest moving averages, remain aligned with the bullish momentum.

Although some intraday charts indicate slowing momentum and potential near-term resistance around $112,000, the broader structure continues to support a bullish thesis as long as the price holds above $110,000.

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