- Bitcoin (BTC) monthly breakout confirmed with top target of $250,000.
- Analyst spots a bullish multi-year bull flag going live on BTC price chart.
- Next pump target set between $140,000 – $145,000 for BTC.
Sentiments are high once again as the first week of August nears its end and the price of Bitcoin (BTC) rallies from the $113,000 and $114,000 price range to finally reclaim a higher target at $116,000. One analyst believes that a Bitcoin monthly breakout confirmed based on a multi-year bull flag going live. Bullish analysts believe a run to the next BTC ATH is already in play, with the next target set at $250,000.
Bitcoin Monthly Breakout Confirmed
The pioneer crypto asset Bitcoin (BTC) has been trading below the $115,000 price range over the last few days after having fallen from the $119,000 price range due to two simultaneous crypto market dips. At that time, the price of BTC was trying to break past the $120,000 price once again, so it could reclaim its previous ATH set at $123,000, set about 25 days ago.
The repeated dip was disappointing as most traders and analysts were hoping to see higher highs for BTC, and instead saw around $107 million liquidated both times, mostly from short trades. Following the dip to $113,000, the price of BTC then went on to fill the $114,000 – $115,000 CME Gap, one of the last CME Gaps on the BTC price chart. Having done so, BTC has now finally broken past this region, restoring bullish sentiment once again.
Multi-Year Bull Flag Goes Live
Now with higher prices restored, analysts are once again looking at the Bitcoin price chart to find bullish indicators to figure out how much higher BTC can go this bull cycle. Presently, most analysts expect BTC to surpass its previous ATH price set at the $123,000 price range, meaning most practical pump targets are set around the $130,000 price range, a target that could be easily hit with an average pump.
However, as we can see from the post above, Doctor Profit, a reputed analyst known for his many accurate silver-tongued predictions, just stated yesterday that BTC is on its way to hitting a new ATH price soon, after macro sideways movements. Now, he confirms that a $140,000 to $145,000 BTC ATH target is in the works, and believes this new ATH target will arrive very shortly.
Finally, the most bullish prediction today is from a reputed analyst sharing an observation on the Bitcoin monthly chart. In detail, he confirms a Bitcoin monthly breakout based on a multi-year bull flag pattern breakout going live. With this in mind, the analyst confirms the next major pump target for Bitcoin (BTC) level to be $250,000, at the top of the macro channel.
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