Bitcoin formed a weekly candle above $119K which completed a key pattern tracked since February.
The scallop pattern now gives BTC a clear setup with two major target zones at $148K and $244K.
Analysts shared that the strong candle may guide Bitcoin into a long rally with no visible resistance now.
Bitcoin confirmed the inverted ascending scallop pattern on the weekly chart after posting a $10,000 candle this week. Shared by SuperBitcoinBro on July 14, 2025, the setup outlines both conservative and aggressive upside targets. BTC is now positioned near $119,188 with market watchers eyeing targets at $148,000 and $244,000.
Source: X
The pattern, which began forming in early 2024, follows five key structure points labeled A through E. This week’s breakout represents the E leg confirmation. Analysts view this confirmation as a strong continuation signal in technical charting.
Based on the Fibonacci projection from points A to B, the linear target sits at $148,000. The aggressive logarithmic target stands higher at $244,000. These levels are derived from historical extension analysis and structural formations tied to bullish continuation setups.
Inverted Ascending Scallop Sets Clear Trajectory Targets
The scallop pattern featured on the chart shows a rounded formation between points A and C, followed by a breakout from point D. Bitcoin's recent candle confirms the E leg, marking the full formation of the pattern.
This breakout followed several months of consolidation below the $114,000 level. The confirmation candle broke above that zone, printing a high near $119,188.10 on Coinbase, as seen in the data overlay.
SuperBitcoinBro noted that the pattern had been tracked since February. The $10K weekly candle was described as the confirmation trigger. With that in place, attention has shifted to how quickly Bitcoin can approach the projected levels.
The conservative target of $148,000 represents a 64% extension of the A to B move. This target could potentially be reached if current volume and trend strength continue. Meanwhile, the upper projection at $244,000 follows a logarithmic trend extension based on similar historic patterns.
Will Bitcoin Reach the $244K Aggressive Target?
With the confirmation now visible on the weekly chart, traders are actively discussing the pace and depth of Bitcoin’s next move. The chart provides two distinct trajectories: a steady linear climb to $148K and an accelerated push to $244K.
These projections are based on a technical pattern, not macroeconomic news or external catalysts. The chart itself relies solely on price movement and historical formations. That clarity appeals to technical traders seeking visual confirmation of trend strength.
The confirmation also implies increasing interest in Bitcoin’s medium-term upside. Comments under the post suggest traders are watching for early corrections before further rallies. The market could see a sharp move to $145K followed by a reset before the next leg higher.
This raises a critical question: can Bitcoin sustain the momentum needed to reach $244K without a major pullback?
The scallop structure, the confirmation candle, and the pattern’s targets now dominate technical discussions. As of this week, the chart signals that BTC has entered a new phase with long-term targets in view.
