Bitcoin passes stress test, analyst declares BTC back in bullish sentiments.
Analyst says $117,500 BTC target grows closer.
Several bullish indicators point to a bullish pump towards a new ATH price target.
The crypto market seems to be gradually moving back to bullish sentiments as the price of BTC steadily reclaims higher prices. As analysts switch to more bullish expectations, one analyst says $117,500 BTC target grows closer as he spots highly bullish signals on the Bitcoin price chart. In particular, this analyst believes BTC will blow past this bull target to set even higher highs in the months ahead.
$117,500 BTC Target Grows Closer
Since Bitcoin set its first 6-digit ATH price in Q1 of 2025, analysts have been eagerly awaiting the pioneer cryptocurrency to pump and hit much higher targets in the months ahead. This expectation seemed far-fetched when the price of BTC went into a prolonged correction phase for the next 4 months, when the price of BTC dropped to the $70,000 price range, undoing all of the assets' pump so far in the bull cycle.
After the correction, the price of BTC recovered quickly and went on to set a new ATH price at the $111,000 price range. Since then, Bitcoin has been moving sideways between $99,000 and $108,000, mostly caused by geopolitical turmoil or other politically-influenced incidents. At the moment, analysts are waiting to see if Bitcoin will move above the $110,000 price mark soon.
This is a highly expected move for the pioneer crypto asset, as the price of BTC just experienced a small setback over the last few days when the price of BTC dipped to the $99,000 price range, caused by the Iran-Israel conflict, further escalated by the entry of the US armed forces. Presently, as tensions deflate, analysts believe there is no need to be bearish for BTC anymore.
Stress Test for Bitcoin (BTC)
https://twitter.com/DrProfitCrypto/status/1937221549263598017
As we can see from the post above, one reputed silver-tongued analyst, Doctor Profit, known for his many accurate market predictions so far, says that the golden line is what will determine Bitcoin and highlights the retest to confirm yesterday’s breakout. He calls this a stress test for Bitcoin and says that the asset needs to close above the line for bullish continuation.
https://twitter.com/JavonTM1/status/1937306094906606063
Since the golden line was located at the $103,000 price region and the price of BTC is now at the $105,000 price, it is likely that Bitcoin will continue in a bullish upward direction. Another reputed analyst shares in the post above that Bitcoin seems to be setting up to blow past the $117,500 price and go on to set even higher targets in the coming weeks ahead. Indeed, it looks like Bitcoin is back in a bullish sentiment.
