BTC Breaks Out of Bull Flag: Could $140K Be Next?
On Thursday, Bitcoin rose 10% from its local low of $108,650 seven days earlier to a six-week high of $119,500. As prices have continued to stabilize below its all-time high of $124,500, Bitcoin has finally recovered a crucial support level. Bitcoin has emerged from the bull flag, setting it up for future large gains, according to the most recent data from Cointelegraph Markets Pro and TradingView. According to analyst Captain Faibik’s most recent research on X, Bitcoin’s bullish flag upside breakout is confirmed. The mid-term goal, he notes, is approximately $140,000.
Could Bitcoin Surge Beyond $139K?
Bitcoin may confirm a breakout from the bull flag pattern if it maintains momentum above its current levels. This breakout might lead to a big rise toward $145,400, which would be a possible 22% increase over the current price. MVRV severe deviation pricing bands are cited by analysts as important indications. Before investor unrealized profits go close to the upper band around $139,300, these bands demonstrate that Bitcoin still has space to grow. This is consistent with the market’s growing hope that Bitcoin’s current bullish run is still going strong.
$120K Resistance Could Trigger Bitcoin’s Biggest Bull Run Yet
Nonetheless, traders continue to exercise some prudence. Given that the majority of Bitcoin‘s sell-side liquidity was consumed during the recent surge above $119,500, a brief retracement is feasible. A retest of support at $117,000 prior to the subsequent move up may be necessary.
Liquidity maps confirm that the $116,000–$117,800 range is a crucial support zone by displaying large bid clusters. Ted Pillows, a market strategist, stressed that retaining $117,000 is necessary to keep the trend going. Failure might send Bitcoin toward $113,500, he cautions.
A clear break above the $120,000 resistance, on the other hand, might pave the way for a big surge. Due to seasonality and resurgent institutional demand, this move may propel Bitcoin past $150,000 and into a new all-time high.
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