16-6-2025 – As Bitcoin navigates a phase of lateral trading, a palpable sense of optimism pulses through the cryptocurrency community, with traders steadfast in their belief that the bull market retains its vigour. Far from succumbing to pessimism, many anticipate the digital currency is on the cusp of a bold new chapter in its price journey, poised for a surge into uncharted territory.
Seasoned trader Alan Tardigrade points to a compelling technical pattern shaping Bitcoin’s trajectory: an ascending broadening wedge. Drawing on historical precedent, Tardigrade notes that since 2023, this formation has heralded significant price leaps, with gains of 49%, 125%, and 68% in prior instances. Such patterns, he suggests, signal robust potential for upward momentum.
Echoing this bullish outlook, trader Merlijn identifies a classic inverted head and shoulders structure in Bitcoin’s recent price action, a formation often associated with market bottoms. This technical setup, Merlijn argues, could propel Bitcoin towards a near-term target of $140,000, fuelling speculation of a dramatic rally on the horizon.
Despite the market’s current sideways drift, the consensus among traders is one of resilience and opportunity. Bitcoin, they contend, is not merely weathering a quiet spell but laying the groundwork for its next ascent.
