Analysts Reveal Bold Bitcoin Price Prediction Amid Market Strength
Bitcoin’s recent price movement is painting a familiar pattern — and analysts say it could be pointing to much higher levels in the near term.
Since early April, BTC has been climbing in neat $10,000 increments, rising from $74,000 to its current range just under $105,000. This steady staircase-like rise has analysts speculating that Bitcoin is locked into an ascending channel — a structure that, if it holds, could set up price targets of $114K, $124K, and even $134K by early summer.
Technical analyst TradingShot shared this outlook in a recent post, highlighting how each breakout has followed a similar rhythm: resistance tested, broken, and replaced by a higher support zone. But the trend isn’t bulletproof — a break below the channel could see Bitcoin retrace to earlier support around $94K or $84K.
Adding weight to the bullish thesis, analyst Ali Martinez pointed to the “Cumulative Value Days Destroyed” (CVDD) metric, a tool often used to identify long-term market tops and bottoms.
According to Martinez, Bitcoin remains in an accumulation phase, with key support holding near $90K — a level critical for sustaining momentum. His model suggests that $120,000 could be the next major milestone if BTC avoids a significant breakdown.
The next #Bitcoin $BTC market top could be at $120,000 as long as the $90,000 support holds! pic.twitter.com/1NAZaImvzH
— Ali (@ali_charts) May 17, 2025
At the moment, Bitcoin continues to hover near $105,000, consolidating after a powerful rally driven by ETF inflows and margin liquidations. Some analysts believe this current sideways action could be forming a bullish flag — a classic setup for another breakout.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
