Bitcoin is at an exciting time in the market, with recent technical patterns and market trends pointing to new growth peaks. In the current trend, the Cup and Handle pattern is forming an important bullish signal, a classic chart pattern that usually indicates strong upside potential. If the pattern is completed, Bitcoin's target price may reach $126,000.

Factors driving Bitcoin prices up

ETF fund inflows: A large amount of funds have recently poured into Bitcoin ETFs, with inflows reaching billions of dollars this week, which has directly reduced the supply of Bitcoin available in the market, while demand continues to increase. Such supply and demand dynamics have greatly driven prices up and accelerated the progress of Bitcoin's bull market.

Technical analysis and bullish patterns: The cup and handle pattern that appears in technical analysis is an optimistic signal for investors, usually indicating that market sentiment is strengthening. Through Fibonacci extension level analysis, Bitcoin may continue to move steadily higher in the future, with a potential breakthrough target price set at $126,000.

Key Price Level Outlook

Analysts believe that the following key price levels may affect the short-term and long-term trend of Bitcoin:

$94,000 - 95,000: Resistance in the short term, a break above which is expected to more firmly support the current upward trend.

$102,000: Key resistance point based on Fibonacci retracement levels, which may bring a short-term correction.

$113,000: The next price target that is expected to be reached after breaking through $102,000.

$126,000: This is the final target price that analysts believe if the cup and handle pattern is fully formed.

With the combined effect of Bitcoin ETFs, market demand and bullish patterns, Bitcoin's bull run may have just begun. With the increasing participation of institutional investors, Bitcoin may continue to climb in the short term. It will be prudent and necessary to keep an eye on future trends, especially when prices approach key resistance levels. #BTC连续破新高，你看到多少？ $BTC $DOGE $SOL