Bitcoin News Today: Bitcoin Surges 0.76% Breaking Bull Flag Pattern Targeting $130,000

Bitcoin has decisively broken out of a Bull Flag pattern, surging past $118,000 and signaling strong bullish momentum with technical targets pointing toward $130K to $152K. The cryptocurrency’s ability to hold above $115,000 reinforces the breakout’s validity, positioning $110,000 as a critical support level for sustained upward movement. According to COINOTAG analyst Dr Profit, who has accurately forecasted recent all-time highs, $130,000 is the next realistic target amid ongoing bullish trends.

Bitcoin’s recent price action confirms a textbook Bull Flag breakout, a technical pattern often preceding significant upward moves. After rallying from $68,000 to $110,000 between April and June, BTC consolidated within a narrow range, forming the flag portion of the pattern. The breakout above $110,000 in early July marked a pivotal moment, pushing prices to a local high near $122,000. This breakout is supported by steady volume and price retention above $115,000, underscoring renewed institutional interest and buying pressure.

The breakout level around $110,000 now serves as a vital support zone, with analysts calculating the Bull Flag’s height at approximately $42,000. Adding this to the breakout point suggests a potential upside target near $152,000. Maintaining price above $115,000 is crucial to validate this bullish thesis. Should BTC dip below the $110,000 to $112,000 range, a corrective pullback toward $100,000 may ensue, but current technical indicators favor sustained upward momentum.

Bitcoin’s price has shown resilience, gaining 0.76% in the last 24 hours, with analysts projecting near-term targets between $128,000 and $136,000 based on chart patterns. These projections assume supportive macroeconomic factors such as increased institutional demand, inflows from Bitcoin ETFs, and robust Treasury yields. Staying above the $115,000 threshold remains essential for maintaining the bullish trend and attracting further capital inflows.

Dr Profit, a respected analyst known for precise all-time high predictions, has consistently anticipated Bitcoin’s recent price surges. Following successful forecasts of new ATHs three and two weeks ago, and the exact $122,500 level last week, the $130,000 target is now in focus. This outlook is grounded in the current technical structure and market dynamics, suggesting that Bitcoin’s momentum remains intact barring significant macroeconomic disruptions.

Bitcoin’s breakout from the Bull Flag pattern, supported by strong technical levels and validated price targets, indicates a robust bullish trend. Holding above $110,000 is critical for sustaining momentum, with $130,000 and potentially $152,000 as achievable near-term targets. Investors should monitor key support zones and broader market conditions to gauge the durability of this uptrend.