Bitcoin is exhibiting a bullish technical pattern suggesting significant upside potential. The cryptocurrency is consolidating within a bull pennant formation, indicating a possible breakout exceeding $136,000. Critical support is firmly established around $115,000, providing a foundation for further gains.
Analysts, including prominent figure Titan of Crypto, forecast the bull pennant could propel Bitcoin toward targets near $140,000. This projection corresponds to the height of the preceding rally measured from the pattern’s origin. Supporting this view, an inverted head-and-shoulders pattern has emerged on the charts, independently reinforcing the $140,000 price objective.
Market observers note that a short-term pullback to the $115,000 range would represent normal, healthy consolidation. Liquidity heatmaps confirm substantial buying interest near this support level, suggesting potential price stabilization before the next advance.
Volume dynamics and overall sentiment suggest that a decisive breakout above $121,000 resistance could rapidly accelerate buying pressure. Conversely, failure to hold the $115,000 support might indicate risks of a more substantial correction phase materializing.