New Bitcoin analysis says 'most explosive phase' to $140K is close

Key Points

1. Bitcoin price has been consolidating below $120,000, with a bull pennant pattern suggesting a potential 15% rally to new highs above $136,000.

2. BTC rallied 14% from July 8 to July 25, reaching an all-time high of nearly $123,000 before pulling back and consolidating between $115,000 and $123,000.

3. Analysts like Titan of Crypto and Merlijn The Trader predict a breakout targeting $140,000, calling it the 'most explosive phase' of the bull run.

4. Some analysts warn of a possible brief drop to test $115,000 as support, with liquidity maps showing bid clusters stacked between $115,000 and $116,100.

5. The current range has $115,000 as support and $121,000 as resistance, with traders advised to watch these levels for potential liquidity grabs.