Bitcoin Price Analysis Shows Bullish Reversal Pattern
Crypto analyst Madden has unveiled a compelling technical analysis suggesting Bitcoin could surge past $100,000, with an ambitious target of $125,000 by year-end. This forecast comes as Bitcoin shows strong support at current levels around $84,000, with multiple technical indicators pointing to a sustained upward movement.
Key Technical Indicators Support Bullish Case
The analysis highlights several critical technical patterns:
- Deep-Crab harmonic pattern indicating a bottom at $76,600
- Wolfe wave pattern suggesting upward momentum
- CME gap between $77,000-$80,000 now filled
- Price holding above 200-day moving average
- Support maintained above 2022-2024 trend line
Price Targets and Timeline
The analysis outlines three key price targets:
- Near-term target: $91,700
- Mid-term target: $102,700
- Year-end target: $125,000
Whale Activity Confirms Bullish Outlook
Supporting this bullish thesis, crypto analyst Ali Martinez reports significant whale accumulation, with over 20,000 BTC purchased in the last 48 hours. This institutional interest suggests strong confidence in Bitcoin’s upward trajectory.
Long-term Outlook and Risk Assessment
While the immediate outlook appears bullish, investors should note the potential for a market correction by 2026, with projections suggesting a possible retreat to $40,000 levels. This longer-term perspective emphasizes the importance of strategic position management.
Current Bitcoin price: $84,500 (+3% in 24 hours)
Source: CoinMarketCap