Bitcoin forms a bullish ABC correction pattern, signaling potential rally toward $175K by September.
Analysts see short-term dip below $100K as a wick before BTC resumes strong upward movement.
Institutional demand and bullish sentiment support long-term targets of $200K to $250K by year-end.
Bitcoin continues to attract strong attention from analysts as technical patterns and market sentiment point to a potential rally. While short-term volatility may occur, recent analysis suggests Bitcoin remains positioned for a major upward move, with projections aiming at $175,000 by September.
Technical Patterns Suggest Bullish Continuation
According to analysis prepared by CryptoBusy, Bitcoin has entered a technical correction phase, forming an ABC pattern after reaching a local high near $106,000. This pattern is typically observed during consolidations within a broader uptrend. Analysts believe the correction could briefly take BTC below the $100,000 level, but only as a wick rather than a full breakdown.
“From a technical analysis perspective, we’re forming the most bullish pattern,” CryptoBusy stated. The current structure is viewed as a setup before a new rally. This aligns with XForceGlobal’s view that the market is in a distribution phase, possibly forming a Running or Expanded Flat, often preceding upward price movement.
The 4-hour BTC/USDT chart also supports this view. Bitcoin has broken out of a symmetrical triangle, signaling a bullish setup. Resistance is noted at $105,820, but breaking it could send the price toward $109,588 and even $110,922.
Bullish Projections and Market Sentiment Strengthen
Arthur Hayes, co-founder of BitMEX, said during Token2049 Dubai that Bitcoin could hit $200,000 in this bull run and possibly $250,000 by year-end. He also reiterated his longer-term forecast of $1 million by 2028.
https://twitter.com/egragcrypto/status/1924330564745646103
Meanwhile, Bitwise CIO Matt Hougan pointed to increased institutional demand and reduced selling pressure as drivers for a possible surge to $200,000 by late 2025. “Seller exhaustion at $100,000 is likely,” Hougan stated in an interview with Cointelegraph.
According to an observation by Coin360, Bitcoin’s realized cap has reached $906 billion, reflecting growing investor confidence. As chart patterns hold firm, traders anticipate a breakout above $109,500 in the coming weeks.
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