Bitcoin Surges 2% Daily, Eyes 101% Rally to $150,000

Bitcoin (BTC) has recently surged past the $110,000 mark, prompting a prominent online crypto analyst, TradingShot, to suggest that the next potential target could be $150,000 if technical indicators continue to align favorably. This prediction is based on the observation that Bitcoin’s current rally has invalidated several short-term bearish patterns, confirmed key support levels, and broken through a critical resistance zone. This positions BTC for a potential 101% rally from the April 7 bottom.

TradingShot noted that Bitcoin recently rebounded at the lower high trendline of a three-year ascending channel, a historically significant formation that has often preceded explosive upward moves. This bounce came at a crucial moment, aligning with the 50-week moving average (MA) and effectively dismissing a looming head and shoulders pattern. With that bearish setup out of the picture, momentum appears to have shifted back in favor of the bulls.

This price structure has now appeared thrice in Bitcoin’s ongoing ‘channel up’ formation. Each instance triggered at least a 101% gain. Notably, two of those rallies started from a similar lower-high rebound, just like the one Bitcoin completed last week. From the April 7 bottom, a 101% rally would put Bitcoin at the $150,000 mark, a clean technical target supported by historical precedent, strong channel support, and renewed breakout momentum.

While the outlook is bullish, analyst Michaël van de Poppe expects a brief consolidation phase, identifying the $107,000 to $108,000 range as an ideal buying opportunity before the next leg higher. Meanwhile, analyst PlanB projects a June closing price of $130,000 if Bitcoin’s Relative Strength Index (RSI) reaches 75. Adding to the optimism, investment firm maintains a $200,000 price target, calling it a “high-conviction but conservative” forecast. The firm cites growing institutional demand and broader market maturation. Notably, spot Bitcoin ETFs now manage over $120 billion in assets, highlighting BTC’s transition into a mainstream asset class.

As of the latest update, Bitcoin was trading at $109,493, up more than 2% daily and over 4% weekly. From here, reclaiming and holding the $110,000 level would open the path toward $115,000—bringing Bitcoin closer to a potential new all-time high. The recent price movements have also sparked interest in the broader cryptocurrency market, with various cryptocurrencies such as XRP, SOL, GOGE, and ETH experiencing price increases.

The bullish outlook for Bitcoin is not limited to short-term predictions. According to analysts, the next leg up for Bitcoin could be defined by a pattern that has historically led to significant price increases. This pattern, identified by crypto experts, suggests that Bitcoin's price could continue to rise, potentially reaching the $150,000 mark. The bullish sentiment is further supported by the fact that BTCBULL holders will begin receiving Bitcoin airdrops directly to their wallets once BTC hits $150,000. These airdrops will continue at regular intervals, providing additional incentives for investors to hold onto their Bitcoin.

The recent price movements and expert predictions have sparked a renewed interest in Bitcoin and the broader cryptocurrency market. As the market continues to evolve, investors and analysts alike will be closely watching Bitcoin's price movements, looking for signs of a continued rally or potential corrections. The bullish outlook for Bitcoin is supported by historical data, technical analysis, and expert predictions, making it a compelling investment opportunity for those willing to take on the risks associated with the volatile cryptocurrency market.