Notable crypto analysts believe Bitcoin could be on the road to $150,000 following a weekly chart-confirmed breakout.
in post In X, analyst Lark Davis pointed out the reverse head and shoulder pattern. This is a technical structure that is often associated with reversal of bullish trends.
The breakouts have occurred just above the pattern's neckline above about $117,000, with Bitcoin now slightly above that level. Davis emphasized that the predicted target for the pattern exceeds $150,000, matching the 2.618 Fibonacci expansion level.
In particular, the current pattern suggests measured movements supporting long-term price targets above $150,000, assuming momentum continues.
Fibonacci levels add weight to the target
Fibonacci's expansion levels provide even more support for bullish targets. Davis pulled an extension to the $15,483 Bear Market Bottom from Bitcoin's all-time high of $69,028 in November 2021. The resulting 2.618 expansion level is $155,665, which is roughly consistent with the breakout target predicted from the pattern.
Bitcoin fibonnaci sequence
Bitcoin has already surpassed the 1.618 Fibonacci expansion at $102,120, indicating that a new price discovery phase may be ongoing.
The momentum continues, but support is important
Despite just 0.6% weekly flooding, Bitcoin surpasses its key neckline of $117,000. This level remains focused to see if analysts continue to hold the level as support. A sustained movement above this zone could cause the door to rise further.
However, a breakdown below $117,000 could suspend current trends or cause short-term revisions. Lark Davis suggested that breakouts define the next major target for Bitcoin, and that reaching it could now depend solely on timing.
How much will Bitcoin be in 2025?
Similarly, Crypto Analyst Cryptogoos pointed Bitcoin's volatility fell to about 11.1%, returning to the level last seen in late 2023, when BTC was priced at nearly $20,000. That earlier volatility preceded the massive gathering.
Bitcoin volatility is compared to the 2023 level
With Bitcoin transactions within $116,000 to $120,000, Cryptogoos charts highlight similar setups, pushing historic lows while consolidating tightly. This coil operation suggests that the market may be preparing for a major breakout, as periods of extreme volatility compression often lead to explosive movements.
In addition to bullish feelings, veteran trader Peter Brandt It was predicted The cycle top of $125,000 to $150,000 by the third quarter of 2025 is conditional on Bitcoin playing its parabolic trendline, a prospect supported by his long-term weekly chart analysis.
Meanwhile, analyst APSK32 believes Bitcoin still has important advantages. Surges above $200,000 By the end of 2025. His views are consistent with projections from Bernstein, Bitwise and Robert Kiyosaki.
