Technical analysts highlight emerging chart patterns suggesting Bitcoin might revisit the $114,000 support level prior to embarking on a significant upward trajectory. Market observers identify an inverted head-and-shoulders (IH&S) formation, a traditional bullish reversal pattern, projecting potential upside targets near $140,000.
The anticipated short-term correction toward the $114,000–$115,000 zone is expected to solidify crucial support, aligning strategically with both the CME futures gap and the IH&S pattern’s neckline. Such consolidation would provide a foundational base for subsequent price appreciation.
Complementing technical indicators, Bitcoin’s Market Value to Realized Value (MVRV) Z-Score suggests current valuations aren’t overheated historically, lending credence to projections of eventual climbs toward $160,000. Recent profit-taking activity among holders appears transitional rather than indicative of bearish sentiment, potentially paving the way for renewed accumulation phases.