Technical patterns and on-chain data now place the next upside targets between $120,000 and $137,000, provided BTC maintains critical support.

Bull Flag Breakout Targets $120K

On shorter timeframes, Bitcoin has formed what analysts describe as a bull flag pattern. Crypto Rover highlighted this setup, noting that the structure often precedes strong rallies. A successful retest of the breakout could quickly propel BTC toward $120,000.

$115,440 Emerges as Crucial Support

Glassnode data places $115,440 as the most important support level. Analyst Ali explained that defending this zone would strengthen the case for an advance to $137,300, while losing it risks a retreat toward $93,600. This level is now viewed as the key pivot point for Bitcoin’s medium-term trajectory.

RSI and Momentum Indicators Show Strength

The Relative Strength Index (RSI) on the daily chart remains balanced, suggesting there is still room for further upside. On higher timeframes, the weekly stochastic RSI has crossed upward.

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Ash Crypto emphasized that in past cycles, this signal consistently preceded strong rallies, making it a closely watched development.

Bullish Outlook if Support Holds

Overall sentiment among analysts is leaning bullish as long as Bitcoin stays above $115,000. With technical setups aligning and on-chain support strengthening, BTC could be preparing for another push higher. The near-term goal sits at $120,000, with $137,000 seen as a potential target in the weeks ahead.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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