- Bitcoin has broken out of a key bull flag pattern.
- Analysts believe the Bitcoin recovery phase is finally in full swing.
- Next ATH target set for BTC at $116,650.
Bitcoin continues to show its superior crypto prowess in a highly volatile market that seems to be on a steady recovery. Presently, the price of Bitcoin is $101,458, this is a significant pump from its previous few weeks when BTC price was struggling in the low $90,000 to mid-$90,000 price range.
Bitcoin Breaks Out of Key Bull Flag Pattern
However, despite the sudden pump and the reclamation of a 6-digit price, Bitcoin still has a long way to go before it reclaims its $108,268.45 ATH target. This sentiment is reflecting on the Crypto Fear & Greed Index where the score is still at 75 for the second day in a row. While this still marks a ‘Greed’ sentiment, it looks like the community is holding its breath and waiting to see if BTC price will hold before switching to a greater bullish sentiment.
Meanwhile, seasoned analysts are pleased to see that their patience is finally paying off. So far, most analysts were certain that the price of Bitcoin would eventually pump to retake the previous ATH and then go on to pump to secure much higher ATH targets. While the cycle top predictions vary from $235,000 to $250,000, analysts are now focusing on which ATH will arrive next for BTC.
Next ATH Set for $116,650
$BTC (BITCOIN) is NOW BROKEN OUT OF a KEY BULL FLAG PATTERN 🏁!
All Time Highs at ≈$108,000 may turn out to be minimal and we could see $116,650+ pushed… https://t.co/rhUVJaiRdm pic.twitter.com/poAXdxWqqf
— JAVON⚡️MARKS (@JavonTM1) January 17, 2025
As we can see from the post above, this analyst marks Bitcoin’s breakout of a key bull flag pattern and confirms that the $108,000 ATH will seem like a minimal price as the next new ATHs will begin to unfold. He marks the next BTC ATH to arrive at above $116,650 and expects to see greater ATHs ahead.
