Bitcoin is in the good books of analysts and key players alike, thanks to its recent bullish performance. The apex cryptocurrency recently hit a new all-time high, and with the newly attained price, a pause and gradual decline in bullish activity is expected.
However, market players remain convinced that the asset could continue on an upward trajectory. One market player has outlined the possibilities for the asset in the long term.
According to analyst TradingShot, BTC/USD trading pairs have broken above their all-time high zone following an increase in buying pressure. A bullish acceleration resulted in an upsurge, leading to a trade above the $118,000 level earlier in the E.U. session.
The bullish momentum has interestingly been in motion since April and could continue into the later part of the year. The analyst breaks down the extent to which the pattern could go, stating the following;
“Technically, the bullish trend doesn’t seem to stop there as following the Bull Flag (we’ve analyzed this extensively in the previous days) break-out of mid-May to June, the long-term Bullish Leg that started on April 07, 2025, bottom, is now looking for its 2nd Phase (extension).”
Using the previous two bullish legs from 2024 as a reference point, a +91.12% surge from the April bottom is expected, the analyst added, while noting the remarkable symmetry spotted amongst all three fractals on the Bitcoin chart.
As the analyst further asserted, should the pattern continue, the bullish leg is expected to peak at a little over $140,000 before Bitcoin kicks off its next correction.
At report time, Bitcoin is trading at $117,289 with impressive gains from the last 7 days, going up to 9% at this time.
