Bitcoin’s bullish price structure indicates a potential surge above $135,000 by September, bolstered by Fibonacci extension targets and declining exchange balances. The pattern follows consistent technical confirmation throughout 2024.
Key technical breakouts occurred at $50,000 and $73,000 resistance levels, both validated by rising trading volumes that signaled strong buyer conviction. Fibonacci projections refined by historical trends now point to a $135,003 near-term price target.
Supporting the technical outlook, exchange reserves contracted significantly from 3.1 million BTC in late April to 2.9 million BTC by mid-June. This reduction in accessible supply creates structural conditions conducive to upward price pressure.
The anticipated peak aligns chronologically with historical halving event cycles, which previously catalyzed extended Bitcoin bull markets. Current indicators suggest a convergence of technical and fundamental factors could propel prices to new highs.