Since early April, Bitcoin has been steadily growing with $10,000 increments, attracting analysts' attention.
Bitcoin's Rise Over the Past Month
Bitcoin has risen from $74,000 to current levels just below $105,000. Analysis indicates that this steady stair-like trend could signal an ascending channel. If this trend holds, potential price targets could reach $114,000, $124,000, and even $134,000 by early summer.
Expert Analyses and Predictions
Technical analyst TradingShot pointed out that each breakout movement has followed a similar pattern: resistance tested, broken, and replaced by a higher support zone. However, a break below could see Bitcoin retrace to support levels around $94,000 or $84,000.
Current Market Conditions and Implications
At the moment, Bitcoin continues to hover around $105,000, consolidating after a powerful rally driven by ETF inflows and margin liquidations. Some analysts believe that this current sideways action could be forming a bullish flag—a classic setup for another breakout.
The current situation in the Bitcoin market demonstrates potential for further growth but requires careful monitoring of support levels and possible changes in market dynamics.
