Analysis of Bitcoin price indicators suggests a potential rise in the price to $140,000, based on technical patterns and analytical data.
Technical Pattern on Bitcoin Chart
An inverted head and shoulders pattern is developing on the Bitcoin chart, which may indicate a trend reversal. The neckline of this pattern lies at the resistance level of $113,000. A move above this level with volume confirmation could lead to a target price of $140,000.
Data on Long-Term Holders
According to data on long-term holders, the Bitcoin supply is steadily increasing and is nearing 14 million BTC. This indicates that long-term owners hold a significant portion of the circulating supply. Such patterns typically precede bullish runs, as seen in 2013, 2017, and 2021.
Whale Activity and Market Sentiment
Recently, there has been notable activity among large investors. One whale has reportedly taken a long position of $200 million using 20x leverage. Additionally, MicroStrategy co-founder Michael Saylor hinted at further Bitcoin accumulation. Current forecasts indicate that Bitcoin may rise by 6.62%, targeting $112,587 by July 14, 2025.
In conclusion, technical analysis, data on long-term holders, and whale activity all indicate a potential rise in Bitcoin's price in the near future.
