Bitcoin prices have been fluctuating in a narrow range over the past week. $105,000 The slight increase is 0.60%. In the last two weeks, there has been a slight cooling in the market for the flagship cryptocurrency after a price jump of 10.7% early in May. A crypto analyst, TATrader_Alan (also known as Trader Alan), has revealed a bullish trend that indicates a target price of $115,000.
Bitcoin climbs with precision: $115,000 may be the next stop
Bitcoin’s price dropped from $109, 000 in January 2025 to $75,000 by mid-April. The premier cryptocurrency, which hit its local low at $74,600 in January, has experienced a market recovery that is impressive. It has risen by more than 39.1% over the last month, reaching a peak local of $105,800.
It is a good idea to get in touch. X post On the 16th of May, trader Alan shared an intriguing technical insight on this upward trend. He highlighted that Bitcoin had repeatedly shown a similar increase in value separated by periods where it was consolidated. This trading chart explains how, after Bitcoin surges to $10,000 or more, the currency enters into a sideways consolidation period lasting 7-10 weeks before continuing its rise.
Bitcoin’s jump from $75,001 to $85,001, to $95,000 then $105,000 has repeatedly shown bullish behaviour. This pattern suggests that Bitcoin, which is the leader in the crypto-market, will reach the $115,000 mark following an eventual breakout of its current price. The projection shows that Bitcoin will gain 10.57% from its current price, a significant increase.
The price movements are a sign of an uptrend that is marked by healthy breaks. Consolidations allow for a market cooling down after a sharp run, and traders can accumulate to get ready for the next leg up. These consolidation zones are often new levels of support, which strengthens the bull market.
Bitcoin Whales Continue to Stack Up
Ted Pillows is a Binance KOL and a top OKC Partner. reports The Bitcoin whales continue to accumulate in a spectacular manner. The largest Bitcoin owners acquired 2,180 BTC worth $226.750,000 on May 15. This shows a high level of market confidence.
Large accumulations of debris are usually caused by Bitcoin whales They are typically bullish signals, particularly in the context of an uptrend. This indicates a high potential for price growth, which is consistent with Trader Alan’s predictions.
Bitcoin is still trading at $103,281 as of press time after a 0.90 % decline the previous day. The asset’s volume of trading is also down 15.76%. This suggests a drop in interest.
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Source: www.newsbtc.com
