Bitcoin poised for $140,000 surge as Big Mike predicts breakout from $95,000 resistance

Crypto analyst Big Mike, known for his expertise in Elliott Wave analysis, has recently published a detailed chart outlining a potential roadmap for Bitcoin's price action. According to his analysis, a break above $95,000 or a bounce from lower support near $72,895 could drive BTC towards the $130,000–$140,000 region. This prediction is based on a complex Elliott Wave structure, multiple Fibonacci extension targets, and critical moving averages.

Big Mike's chart illustrates a detailed Elliott Wave structure consisting of five main impulse waves and interspersed corrective sub-waves. A key area labeled near $72,895 corresponds to wave (c)(iv), which represents a major potential bottom if the market breaks below $78,000 and continues lower. Corrective waves around $85,000 to $95,000 have formed a larger consolidation phase, which he regards as a precursor to the next directional move. The chart also pinpoints an upside pathway from roughly $95,000, projecting impulse waves (3), (4), and (5) that extend into the $100,000–$140,000 zone.

Fibonacci extension targets appear at approximately $114,693, which could be the target for wave (3), followed by a corrective move to $102,000 before starting wave 5, which aims for $137,727. A final leg near $150,000 aligns with wave c(3). Moving averages in the $72,000–$90,000 range underscore the significance of support near $78,000–$72,895, while an upper band around $90,000–$95,000 represents a crucial resistance corridor. The analyst observes a descending wedge formation from mid-February to early March, spanning $95,000 down to $85,000, and notes that an upside breakout could herald a renewed push into six-figure territory.

Volume profiles indicate subdued participation during recent corrective phases, alongside a neutral Stochastic RSI reading that suggests momentum could shift decisively depending