Bitcoin Surges 105,000 Amid Analysts Predictions of Further Volatility

Bitcoin experienced a significant rally, surging above $105,000 in mid-morning trading on Tuesday, recovering from losses incurred over the weekend when it dipped below six figures for the first time since May. However, veteran technician Quantum Ascend (@quantum_ascend) cautions that this respite may be short-lived.

According to the analyst, the current Bitcoin price pattern mirrors that of 2021, characterized by a run-up, a high point, a subsequent drop, and a second high. This is followed by an ABC corrective sequence, which in 2021 bottomed out only after a second, deeper flush. The analyst does not believe that last Friday’s sell-off marked the final capitulation, as he has been predicting an ABC pattern since March. He anticipates that alternative cryptocurrencies will take off after this pattern completes.

Quantum Ascend’s base case scenario envisions a relief rally toward the $107,000–$108,000 band, where a trend-line projected from the two post-halving peaks intersects. Following this, a final leg lower could drive the price into what he calls the “pain box,” sandwiched between the 0.702 and 0.618 Fibonacci retracements of the entire rally from last October’s $58,000 breakout. In 2021, this zone ultimately reached the exact 0.618 level, implying spot levels between roughly $96,500 and $92,000. The analyst acknowledges the possibility of a turnaround but maintains that there is still a good chance that the final leg lower has not yet occurred.

Internally, the analyst interprets the current drop as the developing C-wave of a larger flat, subdividing into a classic five-wave impulse. Wave three appears complete, and wave four “could come up high,” granting altcoins a short-lived pop. However, he expects a rollover soon, citing 2021’s July fractal as a psychological template. He warns that a big news narrative event could trigger a relief rally, only to be followed by another scare for retail investors.

Macro sentiment remains fragile, with the Chicago Mercantile Exchange gap at $92,000 drawing “average-retail” bids. The analyst characterizes this setup as a “washing machine” where professional money fronts liquidity only to fade it. Despite this, he reiterates long-term optimism, having “hammered some buys” during Monday’s dip and advising his followers to dollar-cost average through the turbulence. His upside target for the ensuing impulsive advance is $132,000, a level he says enjoys “two pieces of confluence” and would coincide with “the alts moment” when Bitcoin dominance finally cracks.

For now, traders are watching the 0.702–0.618 pocket and the mooted relief ceiling at $108,000. Should Bitcoin slice through support without that interim bounce, the analyst says the flush could conclude “sooner than later,” clearing the runway for what he calls “the next few months—our moment.” He urges viewers to “be an adult, live through it,” but also confesses palpable excitement about the current market position. Whether the market shares his confidence will likely become clear once the final C-wave verdict arrives—perhaps, he hopes, within the week.