Bitcoin has been steadily climbing in increments since early April, reaching just under $105,000 from $74,000. Analysts predict potential price targets of $114K, $124K, and even $134K by early summer.
Technical analyst TradingShot suggests that Bitcoin is locked into an ascending channel, although a break below could lead to a retracement to support levels at $94K or $84K.
Analyst Ali Martinez highlights the importance of the $90,000 support level for Bitcoin's momentum and potential market top at $120,000 if no major breakdown occurs.
Bitcoin, currently trading near $105,000, is consolidating after a strong rally driven by ETF inflows and margin liquidations. Analysts speculate that the ongoing sideways movement could indicate a bullish flag formation.