CandleFocus Bitcoin analyst predicts BTC will hit this price as bullish pattern unfolds
2025-02-05
Author: Content Editor
Bitcoin and altcoins experienced significant market swings following a crash triggered by President Donald Trump's tariff order. However, analysts see a bullish pattern forming, with Bitcoin's price action forming a bullish pennant on the two-day chart. If BTC confirms a breakout from this formation, it could surge towards $155,000 in the coming months. Bitcoin is currently facing resistance at $104,000, but a breakout could lead to levels of $110,000, $120,000, and potentially $155,000. A key support level is between $94,000 to $96,000. Bitcoin's long-term Channel Up pattern continues to support the uptrend. Technical indicators and past rally patterns also suggest the potential for another parabolic rally, with a key upside target of $145,000. Overall, the outlook points to a strong rebound in the near term, despite market volatility driven by trade war fears.
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