#BTC110KToday? CNBC Contributor Says #Bitcoin Set for “Early Fireworks” to $142,000.

A bullish pattern on the higher Bitcoin timeframe supports widespread optimism that its price could rally to levels never seen before.

Bitcoin could be set for “early fireworks,” according to Frank Cappelleri, founder of independent research firm CappThesis and CNBC contributor. In a July 2 post, he identified a bullish structure on the BTC/USDT chart that could push prices to unprecedented levels.

Specifically, Cappelleri highlighted an inverse head and shoulders pattern on the weekly timeframe, a typical bullish structure that precedes a positive price shift. He asserted that a breakout for BTC would spur a price explosion specifically to $142,000.

An accompanying chart further buttresses the details of this bullish pattern. For context, a typical H&S pattern consists of the head, left shoulder, and right shoulder, all of which the chart highlights.