Bitcoin News Today: Bitcoin Could Peak at $155,000 with 30% Upside, Technical Analysis Suggests

Bitcoin's price trajectory has drawn significant attention as a trading expert forecasts a potential peak near $155,000, driven by bullish technical indicators and historical price patterns. According to analysis from TradingShot, Bitcoin (BTC) has demonstrated momentum following its rebound from the 50-week moving average on April 7, 2025, within a three-year ascending channel initiated in November 2022. This rebound coincided with the 0.236 Fibonacci level, a historically significant support zone linked to major bullish reversals [1]. The expert cited parallels to prior surges, including a 106.37% rise in late 2022–early 2023 and a 197.23% gain from late 2023 to early 2024, suggesting a similar aggressive rally could materialize.

At the time of reporting, Bitcoin traded at $118,961, with a 0.7% 24-hour increase and a 0.68% weekly gain. The price remains above its 50-day simple moving average ($110,835) and 200-day SMA ($90,530), reinforcing an uptrend. A 14-day RSI of 64.11 indicates strong buying pressure without entering overbought territory, leaving room for further gains [1]. However, immediate resistance at $119,400 has stalled recent advances, as noted by cryptocurrency trading expert Michaël van de Poppe in a July 28 X post. This level coincides with a CME futures gap near $118,500, increasing the likelihood of a short-term pullback into the $116,500–$117,500 range before potential continuation [1].

The projected $155,000 target implies a 30% upside from current levels, contingent on sustained buying pressure and a breakout above key resistance. While the forecast reflects optimism in BTC’s technical setup, it remains speculative and subject to market volatility. Analysts caution that a failure to secure $119,400 could trigger a correction, though historical liquidity clusters below this level may present accumulation opportunities. Institutional adoption and macroeconomic factors are cited as broader tailwinds, yet the prediction does not account for potential headwinds such as regulatory shifts or macroeconomic risks.

Current on-chain metrics suggest a mixed outlook: Bitcoin’s position above critical moving averages and a moderate RSI reading support further gains, but short-term liquidity dynamics and unbroken resistance levels highlight caution. The market’s reaction will likely hinge on whether buyers can push BTC beyond $119,400 to confirm the bullish narrative. As the asset approaches psychological benchmarks, traders are advised to monitor exchange activity and technical confirmation signals, though no additional data substantiates the $155,000 projection beyond the analyst’s analysis.

Source: [1] [Bitcoin to peak at $155,000 on this date, according expert] [https://finbold.com/bitcoin-to-peak-at-155000-on-this-date-according-expert/]