Bitcoin broke a Bull Flag at $110K, confirming strength with targets ranging from $128K to $152K based on pattern height.
BTC holding above $115K signals bullish continuation, with $110K now acting as crucial breakout support.
Analyst forecasts $130K as the next high after a streak of accurate ATH predictions in recent weeks.
Bitcoin has surged past a key technical formation, adding to ongoing bullish momentum that began in early April. The digital asset broke out of a textbook Bull Flag pattern, often seen before major upward moves.
After rising from $68,000 to $110,000 between April and June, BTC entered a tight consolidation range, forming a flag bounded between $100,000 and $110,000. Early July marked the breakout, pushing the price to a local high at $122,000. With the current price around $118,262, analysts now eye $130,000 as the next possible high.
Technical Pattern Points to Ongoing Uptrend
The Bull Flag setup began with a sharp rally, which formed the flagpole, followed by a downward sloping channel. This pattern appeared between June and July, confined by two parallel trendlines.
The clean breakout above the upper trendline was followed by steady movement, suggesting renewed interest from large buyers. BTC holding above $115,000 adds weight to the strength of the breakout.
BTC/USDT 1-day price chart, Source: Dr Profit on X
The breakout level around $110,000 now acts as a key support. If that area holds, further bullish movement is possible. Analysts calculate the flag’s height, roughly at $42,000, added to the $110,000 breakout zone, implying a measured move target near $152,000.
Price Target Zones Range Between $128K and $150K
Bitcoin has progressed 0.76% in the past 24 hours. The next bullish next moves are between $128,000 and $136,000, as per chart estimates. Provided macroeconomic conditions support growth, such as institutional demand, ETF inflow, or strong Treasury demand, Bitcoin can go even higher. Being above the level of $115,000 is essential to maintain the current trend.
If BTC falls below the $110,000 to $112,000 zone, the rally may lose steam. A fall below that support would lead to an additional pullback towards $100,000. That being said, provided the price remains above the breakout point, bullishness about structure is technically justified.
Analyst Maintains ATH Streak With $130K in Focus
In recent weeks, Dr Profit has maintained a consistent track record of new all time high predictions. Three weeks ago, a fresh ATH was predicted and hit. Two weeks ago, another was reached.
Last week, the $122,500 level was met precisely. As of now, $130,000 is the next target, driven by a strong continuation of the current uptrend. The outlook is clear from the technical structure.
Bitcoin Bull Flag breakout, supported by key levels and measured targets, suggests momentum is intact. Price above $110,000 confirms market strength, and the next potential leg points toward $130,000 and possibly beyond, barring any major shifts in broader market conditions.
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