Bitcoin Bull Pennant: Analyst Predicts $140,000 Target After Breakout

A bitcoin bull pennant shows large terms moves ahead. The cryptocurrency marketplace volatility pushes for $140,000 soon. Expert Ali uses crypto concern strategies to spot this pattern. Bitcoin sits astatine $94,448 arsenic traders ticker closely.

What if alternatively of the head-and-shoulders apical everyone is talking about, #Bitcoin $BTC is really forming a bull pennant, targeting $140,000 next? pic.twitter.com/50iE0xJGXp

— Ali (@ali_charts) January 11, 2025

Also Read: Binance’s BNB Predicted To Hit New High After Trump’s Oath

Understanding Bitcoin Bull Pennant and Its Potential for $140K Target successful Crypto Market Volatility

Source: Watcher Guru

Bull Pennant Formation Points to Major Upside

Source: X

“Bitcoin is apt to beryllium trading wrong a triangle enactment that is usually a bullish pennant,” states Ali. The bitcoin bull pennant forms betwixt $86,897 and $106,777. High cryptocurrency marketplace volatility suggests a leap soon. Charts amusement $144,332 arsenic the apical target.

The terms changeable up earlier this pattern.

“If this signifier continues to beryllium the same, it would astir apt sprout up to $140,000 arsenic mapped retired successful the bull pennant,” Ali explains.

Breaking past $106,777 boosts crypto concern strategies. Dropping nether $86,897 risks $78,757.

Also Read: How Many Grams are successful an Ounce of Gold?

Short-Term Analysis Reveals Falling Wedge Pattern

Source: TradingView

The Bitcoin breakout people shows connected smaller timeframes, too. A caller signifier points to $96,000 next.

“Recent terms actions bespeak that Bitcoin has already breached this wedge signifier format and whitethorn beryllium headed towards $96,000 successful the adjacent future,” notes Ali. The bitcoin bull pennant gains strength.

The terms sits astatine $94,368 aft moving up. “The breakout from the wedge mightiness tilt the scales successful the absorption of the bulls,” accidental experts. Cryptocurrency marketplace volatility keeps rising.

Also Read: How to spell Frame by Frame connected Youtube?

Technical Levels and Price Targets

The charts amusement Bitcoin could scope $140,000. This is what the breakout people tells us. Ali has mapped retired the steps to get there. First, there’s absorption astatine $106,777. Then different halt astatine $120,801. What could beryllium the last target, you ask? According to Ali, it’s “$144,332 utilizing the 1.618 Fibonacci extension.”

At this constituent successful time, the bitcoin bull pennant is getting tighter and tighter. When this happens, a large terms determination usually follows. Traders are watching 2 cardinal levels close now, and they person precise bully reasons to. The absorption level sits astatine $96,000. And the enactment level is down astatine $86,897. These levels are important for their trading plans.