- Bitcoin’s victory over a bullish wedge chart pattern is a hint towards a target of $ 140 K.
- An RSI of 75.44 indicates extreme buying interest and the simultaneous implication of the coin’s overbought levels.
- Higher MACD momentum signals a sustainable bullish situation being supported by growing trade quantities.
Bitcoin has come to the forefront once again by breaking through the $103,000 ceiling, reigniting bullish confidence and conjuring up speculation of a giant upward shift. With the breakout from a bullish chart pattern and the presence of overbought momentum, market players are eying much higher prices.
According to market feedback, there is a mix of cautious optimism and an uptick in optimism as Bitcoin’s ability to rise above its recent swings opens the door for a possible rally towards $140,000 and the commencement of a significant bull market period in the second half of 2025.
CryptoBoss has sparked excitement across the crypto community with a bold projection that Bitcoin (BTC) could be on track to hit the $140,000 mark, following a confirmed breakout from a right-angled descending broadening wedge, a classic bullish reversal pattern. On the weekly chart, the breakout of Bitcoin through the $103,000 horizontal resistance is termed, as well as the emergence of strong green candles that denote resumed bullish price action.
Assessing the wedge measurements, the measured move aims at about $140K, which means that from its current position, its upside potential can be more than 30%. Following historical trend, the pattern indicates that Bitcoin may be set to blast off into another major bull run as 2025 lapses into its end six months.
Source: X
Current Price for Bitcoin (BTC)
Bitcoin (BTC) continued its bullish sentiment above the $103,000 mark, adding 0.59% in the last 24 hours trading at $103,488.36. The intraday chart was highly volatile with huge swings and a brief drop under $103K; however, Bitcoin managed to bounce up and end higher.
Although the global market cap for BTC gained slightly to $2.05 trillion, the steep drop in 24-hour trading volume to $41.33 billion (-44.70%) indicates possible market dwindling. There is still amplification of the core narrative of scarcity-induced value of bitcoin in the fact that it maintains a circulation of 19.86 million BTC against a fixed total of 21 million. Investor optimism remains with a near-flawless 100% profile score and volume to market cap ratio of 2.02%.
Source: CoinMarketCap
Technical Indicators Flash Bullish Despite Overbought RSI
Critical technicals indicate that the Bitcoin upwards trend is still supported. At the RSI value of 75.44, the figure exceeded overbought levels, indicating high interest in buying, while at the same time worrying about being over-extended in the short term. The more the MACD and signal lines diverge, the more the indicator keeps reinforcing the bullishness as the histogram is of increased strength. Investor activity can be seen, with the daily trading volume remaining healthy at 8.5K BTC.
Source: TradingView
