Bitcoin has shown a steady increase from $74,000 to nearly $105,000 since April, following an ascending channel pattern indicating a bullish trend.
Key resistance levels projected at $114,000, $124,000, and potentially $134,000 by mid-2025 if the channel holds.
Technical indicators like Cumulative Value Days Destroyed (CVDD) imply Bitcoin is in an accumulation phase, with essential support at $90,000 maintaining positive momentum.
Analysts anticipate Bitcoin's potential climb to $120,000 with strong support, backed by factors like increasing ETF inflows and a consolidation phase suggesting a bullish continuation.