$BTC has been on an upward trajectory, and today it reached an impressive $123k. However, we might face consolidation soon. If we look at previous patterns, when BTC reached $49k, it later surged to $108k, and after a few days, it touched $109k before consolidating to $74k. If we apply the same percentage increase from $48k to $109k, there's scope for further growth, making it possible for BTC to exceed $130k.
Notably, the Fibonacci level of 1.618 suggests a potential target of $134k. Additionally, the Relative Strength Index (RSI) indicates that BTC is not yet overbought, leaving room for further upside. The Moving Averages (MA) are also aligned in a bullish pattern, with the 50-day MA crossing above the 200-day MA. With these technical indicators in place, a push above $130k seems increasingly likely.
