Bitcoin (BTC) continues to trade strongly near its all-time high, hovering around $124,400 after a week-long 10% surge that pushed its market capitalization to $2.48 trillion.
The top cryptocurrency has maintained upward momentum throughout early October, with analysts suggesting that the current consolidation could be the final pause before a major breakout.
According to Michaël van de Poppe, Bitcoin is showing resilience near its record levels, building “stamina for the next big breakout toward $150,000.” He added that a potential dip below $121,000 could present an ideal accumulation zone for investors looking for an entry point.
Market analyst Rekt Capital echoed a similarly bullish view, noting that Bitcoin continues to hold the $123,400 level as short-term support. “As long as this zone remains intact, bullish momentum should continue,” he said, highlighting the area as a critical base for sustaining further upside.
Meanwhile, chartist EGRAG CRYPTO pointed to $128,000 as the next major threshold, suggesting that clearing this resistance could open the path toward $138,000.
He described the setup as a “cycle target,” implying a potential mid-term move before the market attempts to reach the psychological $150,000 zone mentioned by van de Poppe.
Technical data also supports the bullish outlook. The daily RSI currently sits around 72, indicating strong buying pressure, though near overbought territory. Price action shows a clean breakout from the late-September consolidation range, with multiple analysts interpreting the move as the beginning of a new impulsive wave.
On the weekly chart, Bitcoin remains in an extended uptrend that has seen higher lows and steady accumulation across major exchanges. Institutional inflows and positive sentiment around ETF performance continue to reinforce the rally.
If Bitcoin manages to sustain above $123,000 and break the $128,000 ceiling, analysts believe the next phase of the bull cycle could extend rapidly toward $138,000-$150,000. However, a brief retracement to the $119,000-$121,000 range could still occur before the next major move.
For now, all eyes remain on the $128,000 level – the line separating short-term consolidation from another historic surge in Bitcoin’s ongoing bull run.
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Source: https://coindoo.com/market/bitcoin-price-prediction-analysts-see-path-to-150k-after-consolidation/