Bitcoin Surges 20% to $118,900, Analysts Predict Further 20% Gain

Bitcoin has recently surged to new heights, reaching an all-time high of approximately $118,900. This significant price increase has sparked considerable interest and speculation among traders and analysts alike. The bullish momentum behind this surge is evident, with technical indicators suggesting a continued upward trend. Several key Fibonacci-based price targets have been identified, with the most conservative target sitting around $121,000. This indicates that there is potential for further price appreciation in the near future.

According to analyst Crypto Patel, the momentum is still very much alive and the next leg up could be even more explosive. Patel points out that Bitcoin just completed a Juda Swing move, a smart money concept where price intentionally dips to grab liquidity before reversing in the opposite direction. This trap shakes out impatient traders and sets up a launchpad for a much bigger move. In this case, BTC pulled off that swing perfectly, dipping into the liquidity zone and tapping into the weekly Fair Value Gap. That was the final step needed before what Patel calls a range expansion and that expansion has already started.

The chart shows several key Fibonacci-based price targets for this expansion. Starting from the most conservative, the first major target sits at around $121,722. If the BTC price maintains current momentum, the next level is projected around $126,236. Patel outlines further targets at $134,983 and the most ambitious one at $140,344. This means that if Bitcoin follows the full range expansion laid out by the technical model, it could rise another 20% from here and possibly more. That would push BTC into price discovery all over again with potential short squeezes and retail FOMO kicking in as it breaks above $120,000 and heads for $130,000 or even $140,000.

As of now, Bitcoin is hovering near the $116,894 mark. This aligns closely with the 0.27 Fibonacci level at $115,937, which is acting as a resistance zone. A strong weekly close above that line could confirm the breakout and set the stage for the next target near $118,200. If Bitcoin rejects from here and pulls back, the next support level is around $112,128. But even if a short term correction happens, the broader trend according to this chart still favors upward expansion.

Crypto Patel’s analysis is based on clear chart structure, Fibonacci math, and past BTC behavior. The path from $118,000 to $140,000 may not be a straight line, but the structure is in place for it to happen. The weekly timeframe is especially significant as it tends to filter out noise and reveal the real directional bias of smart money. Whether Bitcoin hits $140,000 in this cycle will depend on how it reacts to these critical levels. But with BTC forming higher highs and respecting bullish setups like the Juda Swing and FVG retests, the odds are stacking up. In the end, Bitcoin is showing strength. And if the expansion continues the way Crypto Patel predicts, we might just see BTC rewrite the record books again with six figures starting with a 1 and a 4.