An analyst identified a double bullish pattern, indicating the potential for Bitcoin's price to reach $167,000.

Popular crypto analyst Plan D has made an intriguing prediction about Bitcoin’s price, stating that based on the presence of two bullish chart patterns, Bitcoin’s price $BTC could reach $167,000.

Recent days have seen significant market volatility due to geopolitical tensions in the Middle East, causing Bitcoin’s price to drop below $103,000 on Friday, though it later saw some recovery.

According to Plan D, since the start of 2025, Bitcoin $BTC has formed two bullish chart patternsa “falling wedge” and a “bullish pennant” which signal a price increase. During the falling wedge pattern, Bitcoin broke through the $85,000 upper limit, leading to a significant price improvement.

On May 22, Bitcoin reached a new all-time high of $111,814, forming part of a bullish flag pattern. Subsequently, the price consolidated in a sideways channel for two weeks, representing the pennant pattern.

Plan D’s analysis suggests that if Bitcoin remains above the $102,300 support level, its price could likely reach $121,000, and potentially climb to $167,000 thereafter.

The analyst emphasized that this prediction will hold true provided Bitcoin maintains this support level, regardless of changing market news.

Currently, Bitcoin’s price $BTC is approximately $104,960, reflecting a slight decline over the past day.

Weekly and monthly charts show a modest price increase, indicating a continued buying trend in the market. However, for Bitcoin to surpass its current all-time high and enter a new price discovery phase, it must break through the $110,000 resistance level, which has acted as a barrier twice in the past week.

This analysis suggests that Bitcoin’s price could see a significant increase in the near future, provided the current support holds and the market maintains a positive trend.

#BinanceHODLerHOME #BTC #IsraelIranConflict #TrumpTariffs #BinanceAlphaAlert