Bitcoin’s recent price movement is painting a familiar pattern — and analysts say it could be pointing to much higher levels in the near term.
Since early April, BTC has been climbing in neat $10,000 increments, rising from $74,000 to its current range just under $105,000. This steady staircase-like rise has analysts speculating that Bitcoin is locked into an ascending channel — a structure that, if it holds, could set up price targets of $114K, $124K, and even $134K by early summer.
Technical analyst TradingShot shared this outlook in a recent post, highlighting how each breakout has followed a similar rhythm: resistance tested, broken, and replaced by a higher support zone. But the trend isn’t bulletproof — a break below the channel could see Bitcoin retrace to earlier support around $94K or $84K.
Adding weight to the bullish thesis, analyst Ali Martinez pointed to the “Cumulative Value Days Destroyed” (CVDD) metric, a tool often used to identify long-term market tops and bottoms.
According to Martinez, Bitcoin remains in an accumulation phase, with key support holding near $90K — a level critical for sustaining momentum. His model suggests that $120,000 could be the next major milestone if BTC avoids a significant breakdown.
The next #Bitcoin $BTC market top could be at $120,000 as long as the $90,000 support holds! pic.twitter.com/1NAZaImvzH
— Ali (@ali_charts) May 17, 2025
At the moment, Bitcoin continues to hover near $105,000, consolidating after a powerful rally driven by ETF inflows and margin liquidations. Some analysts believe this current sideways action could be forming a bullish flag — a classic setup for another breakout.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/market/analysts-reveal-bold-bitcoin-price-prediction-amid-market-strength/