Bitcoin (BTC) Almost Reached $130,000 Target, Is This the Last Bullish Wave?

Jakarta, Pintu News – Bitcoin (BTC) is currently at a critical point in its long-term technical formation, with some analysts suggesting that the cryptocurrency is nearing the upper limit of a large bullish pattern.

Data from analyst Gert van Lagen shows that Bitcoin (BTC) is approaching the $120,000 to $130,000 price range, a target derived from the multi-year Cup and Handle formation. If it manages to cross this level, further growth projections place the next potential peak above $300,000.

Check out the full analysis here!

Technical Analysis Shows Great Potential

The Cup and Handle pattern formed between 2021 and 2024 seems to be nearing completion, signaling a possible breakout in the coming months. This pattern mirrors the structure seen in previous cycles, reinforcing the view that Bitcoin (BTC) may be entering the final wave of its current bullish phase.

In addition to pattern recognition, the chart also includes wave counting from 1 to 5, signaling the use of the Elliott Wave Theory. Based on this structure, it is believed that Bitcoin (BTC) is moving into wave 5, which is historically considered the most aggressive and final upward phase of the market cycle.

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Current Price Behavior and its Implications

According to the latest data from CoinMarketCap, Bitcoin (BTC) is trading at $108,836.05. This price recorded a decline of 0.74% over the past 24 hours. Intra-day movements showed volatility, with lows below $107,000 and peaks above $109,000, indicating active participation but short-term uncertainty.

Bitcoin’s (BTC) market capitalization stands at $2.16 trillion, in line with its fully diluted valuation of $2.28 trillion. With 19.86 million BTC already in circulation, and a total cap of 21 million, Bitcoin (BTC)’s steady supply continues to support its valuation model.

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Projections and Expectations for the Future

If the current Cup and Handle pattern is successfully broken, Bitcoin (BTC) could see a rapid price increase similar to previous clear bull market patterns.

Although van Lagen’s chart outlines an exponential path, it is estimated that Bitcoin (BTC) could surge above $300,000 if wave 5 develops as planned.

These projections are not only of interest to investors and traders, but also to market watchers trying to understand the dynamics behind Bitcoin’s (BTC) price movements.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Blockchain Reporter. Bitcoin Nears $130k Technical Target as Analysts Track Final Bullish Wave. Accessed on May 26, 2025
• Featured Image: Generated by AI