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$BTC Preparing For Another 20%-30% Jump?

Analyst crypto Jelle suggested that BTC’s news target is around the $140,000 mark, pointing to a Power of Three (PO3) setup on Bitcoin’s chart. The pattern divides the price action into three phases: accumulation, manipulation, and distribution.

In the first phase, a consolidation near the recent high occurs after a strong price performance. This is followed by a token’s price falling below the accumulation phase’s support level in the second phase, trading within a range below the recently lost zone.

Lastly, the distribution phase consists of a strong price breakout, with momentum building and participants entering the market. Based on this setup, the flagship crypto started the accumulation phase during the Q4 2024 rally, entering the next phase during the March-April retraces.

Amid its late April-May rally, Bitcoin has arrived at the setup’s final phase, with the analyst forecasting $140,000 as the next target after breaking above the $108,500 mark.

Similarly, Sjuul from AltCryptoGems highlighted the same Po3 pattern on BTC’s chart, affirming that investors could expect a “strong expansion” toward the $125,000-$130,000 levels after breaking out of its previous ATH levels.

He previously pointed out that “$BTC is clearly repeating the summer 2021 price action and trading in a perfectly bullish structure on high time frame,” which could suggest that the cycle’s top isn’t in yet.

As of this writing, $BTC trades 1.8% below its new ATH, at $107,502.