 
 
Bitcoin can reach as high as $136,000 in the near future, one popular crypto analyst has argued. According to the said commentator, the premier digital currency’s price chart is showing noteworthy signs of a major price breakout that will propel it to new heights, overtaking its current All-Time High (ATH) in the process.
The analyst tweeted on X:
“#Bitcoin BREAKING OUT
If confirmed, this breakout could send #BTC toward $136,000 in the not-so-distant future.”
According to the posted graph, the premier digital currency is making a smart triangle-shaped pattern that is already showing signs of a major price breakout. This particular pattern is useful for predicting a major price increase following a squeeze that witnesses higher lows.
 
Can Bitcoin Reach $136,000?
Bitcoin is ending October on a slightly optimistic note. The largest cryptocurrency by market capitalization spent most of the month reeling from a major price dump that led to an 8% decline. The altcoin market suffered even worse, shedding roughly a quarter of its value. “Uptober”, as the month is often called, has proved to be a major obstacle in the ongoing bull market, with some users fearing the end of this run is now upon us. Over $18 billion in liquidations occurred in the derivatives market, illustrating just how severe the crash was.
However, the market has since recovered around 5% of its value and will look to end the month on a relative high so that it can bounce back strongly in November. The entire next week will be absolutely crucial in this regard, as the bears, too, might sense an opportunity to reverse the late price recovery and enter the new month as absolute favorites.
Bitcoin can record a new ATH of $136,000 in the coming weeks, especially given the historic strength of the 11th month. However, we are in uncharted waters once again because October has fared poorly, which has never happened in a net bullish calendar year.
So, the next few weeks are going to be very important. If BTC recovers above $120k, the market will feel optimistic about a move above $130k, and possibly beyond, by the end of the calendar year. If not, the bulls might force a major move back to $100k, and with it, the bulls’ momentum will be broken for the near future.