Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC?

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Bitcoin Ready For Second ‘Price Discovery Uptrend’ Following $109,000 Breakout – What’s Ahead For BTC? - NewsBTC

Quick Summary:

Since reclaiming this crucial level on Monday, Analyst Ali Martinez pointed out that the flagship crypto appeared to be forming an ascending triangle pattern in the lower timeframes, which suggested a rally toward the $115,000 level once the price broke above the $107,000 mark. In the early hours of Wednesday, BTC’s bullish breakout saw it retest the $108,000 barrier, facing rejection toward the $106,000 support before bouncing and smashing this barrier and rallying toward its new ATH.

Amid its late April-May rally, Bitcoin has arrived at the setup’s final phase, with the analyst forecasting $140,000 as the next target after breaking above the $108,500 mark.

Related Reading: Solana Rejected From Key Inflection Point’, But Multi-Year Trend Suggests New Highs Similarly, Sjuul from AltCryptoGems highlighted the same Po3 pattern on BTC’s chart, affirming that investors could expect a "strong expansion” toward the $125,000-$130,000 levels after breaking out of its previous ATH levels.