Could Bitcoin Surge to $130K in the Upcoming Week? A Detailed Price Review

Bitcoin's bullish market performance continues, with the cryptocurrency recently rallying and now approaching its all-time high of $123K. The ongoing upward trend has emerged from a rebound at the lower boundary of an ascending price channel, pushing the cryptocurrency to its current peak. However, this level is also a crucial supply zone, possibly leading to a short consolidation phase. If the price manages to break this barrier, the next target is around $130K.

On the other hand, a rejection could lead to a corrective move towards the $116K-$117K range. Interestingly, the market has seen a shift from whale-driven activity to heavier retail participation. The reduction of whale involvement suggests that large buyers may be holding their positions or waiting for better re-entry points, leaving Bitcoin well-placed for a bullish breakout unless significant whale activity re-emerges.