A prominent TradingView analyst, MasterAnanda, outlined a clear bullish pathway for Bitcoin (BTC) on August 11, arguing that momentum on the 3‑day chart supports a move to $137,000 within the next one to two months. His case blends price structure, altcoin behavior, and broader market cues — and it’s been echoed by other technical voices, including TradingShot, which projects a further extension to about $148,000 based on a bull‑flag pattern and a 2.0 Fibonacci extension.
What the analyst is seeing
Chart signal: MasterAnanda points to the 3‑day timeframe where BTC is trading at its strongest levels since the prior all‑time high and is “challenging resistance” — a setup he calls ultra‑bullish if price holds above the zone after retests.
Altcoin confirmation: A central part of the analyst’s checklist is cross‑market behavior. When Bitcoin consolidates at elevated prices while altcoins rise, it often indicates internal rotation and market breadth that can precede another BTC leg up. Ethereum’s recent moves to multi‑year highs are cited as a reinforcing signal.
Alternate technical take: TradingShot’s view uses a classic continuation setup (bull flag) and a Fibonacci extension to place a possible $148K target by late September 2025 — a longer target that aligns with an extended impulse scenario.
On‑chain fundamentals backing the momentum;
New address growth: On August 9, Bitcoin added roughly 364,126 new addresses — the highest single‑day tally in about a year. Large spikes in new address creation often reflect renewed retail or institutional onboarding and can amplify demand.
Network adoption: Rising active/inflow metrics and fresh addresses help the narrative that adoption is broadening, which may help sustain higher price levels if buying persists.
Where price stands now;
Current price snapshot: At the time of the post, BTC was trading around $120,512, with a 7‑day gain of ~5.36% and a 24‑hour move of ~1.71%.
Immediate test: Bitcoin is probing resistance in the area of its prior all‑time high (~$123,091). How it behaves on retest — especially daily/weekly closes — will be a major confirmation or invalidation point.
Key levels and a clean game plan
Important resistances: near-term: $123K → $125K. If momentum is sustained, the next ranges include $130K and a $135–137K zone (the analyst’s near-term milestone).
Support anchors: watch $118K → $115K as first line supports on a shallow pullback; a deeper correction would target $110K area.
Confirmation: multiple daily closes above the $123K–$125K band or a weekly close convincingly above prior ATHs increases the odds of a sustained advance.
Three realistic scenarios (next 1–8 weeks)
Bull continuation— the base case for the bullish thesis:
BTC holds above the ATH band on retests, altcoins continue showing breadth, and institutional/spot flows remain steady. That pattern supports a move to $137K and beyond in an orderly fashion.
Range and base‑build:
BTC oscillates between $115K and $123K while the market digests gains. This consolidative path often sets up stronger, less volatile breakouts later.
Pullback / Shakeout:
Overheated derivatives (high funding, surging open interest) or a macro surprise triggers a rapid pullback to $115K or lower before buyers re‑engage. That would reset momentum and require fresh confirmation for new highs.
Signals to watch closely
Market breadth: Are altcoins continuing to advance alongside BTC, or are they lagging? Breadth matters.
Derivatives health: Funding rates and open interest — persistent, high positive funding suggests overcrowded longs and makes the market vulnerable to liquidations.
ETF and spot flows: Net inflows into spot products (where applicable) materially change available float and the resilience of upmoves.
On‑chain flows: Exchange inflows/outflows and large wallet transfers (miners/whales) can give early signs of distribution or accumulation.
Volume and candle closes: Breakouts with rising volume and clean daily/weekly closes are more reliable than low‑volume spikes.
Caveats and risk management
Not a guarantee: Technical patterns and on‑chain pulses are informative but not predictive certainties. Targets like $137K or $148K are plausible based on certain patterns, but markets often take convoluted paths.
Macro and regulatory risks: Shifts in macro sentiment (rates, USD strength) or regulatory headlines can rapidly change the setup.
Position sizing: Given the volatility, set clear invalidation points, use sensible position sizing, and consider staggered profit‑taking rather than all‑in bets.
Bottom line
MasterAnanda’s view — BTC to $137K inside 1–2 months — is a bullish, chart‑backed scenario amplified by supportive altcoin action and encouraging on‑chain metrics like a surge in new addresses. TradingShot’s longer target ($148K) presents a more extended extension if the bull flag plays out fully. But confirmation hinges on how BTC handles the $123K–$125K resistance band, whether altcoin breadth holds, and whether leverage remains disciplined.
If you follow this setup, watch retest behavior, ETF/spot flows, funding rates, and altcoin strength. Those signals will help distinguish a controlled, sustainable advance from a headline‑driven spike that quickly fades.
