Bitcoin May Retest $114,000 Support Zone Before Potential Rally Toward $160,000
2025-07-15 15:41:40
Main Idea
Bitcoin may retest the $114,000 support zone before a potential rally toward $160,000, supported by technical patterns and on-chain metrics.
Key Points
1. An inverted head-and-shoulders (IH&S) pattern on Bitcoin’s charts suggests a potential upward movement, with targets near $140,000.
2. A short-term pullback to the $114,000–$115,000 range is expected to solidify support before further gains.
3. The MVRV Z-Score indicates Bitcoin’s market value is not overheated, supporting projections of a climb toward $160,000.
4. Profit-taking by investors is seen as a precursor to further accumulation phases, reinforcing a bullish outlook.
5. Technical analysts highlight the importance of the $114,000–$115,000 range, aligning with the CME gap and IH&S neckline.
Description
Bitcoin’s recent breakout signals a potential surge toward $160,000, with technical patterns and on-chain metrics supporting further upside. A short-term retracement to the $114,000–$115,000 zone may solidify key support levels
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