Bitcoin price eyes 15% got but the entrepreneurs said that BTC could go down to $ 115k first
Key Takeaways:
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A Bitcoin price pullback to $ 115,000 is possible before continuing to support.
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A Bull Pennant suggests that BTC prices can rally by 15% of the new highs of over $ 136,000.
Bitcoin (Btc) Spent the price most of the week pined below $ 120,000, which has many analysts labeled as a major resisting zone. However, a new technical setup suggests that the BTC is likely to integrate within a bull pennant before continuing its climb.
Bitcoin “Bull Pennant” targets $ 136,000 and more
Bitcoin rallied 14% between July 8 and July 25 to reach a All-time high of nearly $ 123,000. Since then, BTC’s price is backcombining between all times high and $ 115,000.
The latest data from Cointelegraph Markets Pro and Tradingview BTC trading is shown within a bull pennant, suggesting that the final “explosive phase” will follow.
Bitcoin is on a “Bull Pennant Breakout that targets $ 140,000,” Says Famous Crypto Crypto in a Monday post on X.
Related: The Bitcoin Bull Run ‘Probably close to Over’ says trader while XRP Flips McDonald’s
A bull pennant is a continuation pattern that occurs after a significant increase, followed by a time of integration -including the higher price end.
“Welcome to the final and most firing stage of Bull Run.”
A Positive breakout From the pennant can lead to the next leg for Bitcoin, which is measured at $ 136,500 or 15% from the current price level.
This is important Remember That the success rate of a bull pennant is around 54%, making one of the least reliable patterns.
However, another classic pattern Merlijn saw the businessman, a Bitcoin analyst, which Says BTC’s target price of $ 140,000 plays based on an inverted head-and-shoulders pattern on the three-day chart.
“The breakout is true. The momentum is undeniable. The $ 140k is the measured target.”
Other hopes are a bit more ambitious, with an analyst citing a dawn -day chart golden cross projecting BTC prices at $ 155,000.
Famous businessman Marcus Corvinus made a moderate prediction, saying a symmetrical triangle breakout Target of $ 125,000.
May i -drop bitcoin to try first support
In most brightly seller of Bitcoin liquid that is absorbed during the transfer to $ 122,000, some analysts warn a short Flush down to try $ 115,000 As support may be the next move for BTC prices.
“Weekend low liquidity swept!” Popular analyst alphabtc Says That bitcoin can drop a little less to get the liquidity around $ 115,000.
The BTC’s liquidity map Shut up That the order book was priming for it, with bid clusters stacked between $ 115,000 and $ 116,100.
“A little less and the bulls are likely to have the fuel needed to push higher again.”
Fellow analyst Daan Crypto trades Says The BTC price is stuck near all times high and noted that most of the volume has been traded around $ 118,000, which is the central level of the current range.
The analyst told its followers to watch the range of less than $ 115,000 as support and highly range to $ 121,000 in objection.
“Consider local highs and lows for a potential sweating of liquidity.”
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
