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Home web3.0 Bitcoin (BTC) price repeats 2021 and 2023 modes, analyst eyes $119K target

脂肪肝吃什么药效果好

Jun 12, 2025 pm 07:57 PM
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百度   一是自觉运用“两论”的马克思主义方法论强化思想,武装头脑。

Bitcoin’s price seems to be repeating the trend that has been around in the past, and traders are closely watching this trend. In the past seven weeks,

Bitcoin (BTC) price repeats 2021 and 2023 modes, analyst eyes $119K target

Bitcoin (BTC) price recorded seven positive lines in a row on the weekly chart. If you feel familiar, it is because this happened in 2021 and 2023. Similar to that time, the K-line in the eighth week turned into a negative line.

This recurring technology pattern has attracted the attention of crypto analyst Crypto Patel and released relevant analysis on the X platform. He showed a chart showing that Bitcoin’s upward momentum tended to stagnate after the seventh green candle. "Bitcoin just completed the seventh consecutive weekly positive line...but it did not continue to the eighth positive line." He pointed out in his tweet.

In addition, discussions about a target price of $119,000 have heated up again, especially when both Crypto Patel and Cryptobullet mention this possibility.

The key point at the moment is whether Bitcoin can break through the support area currently located between $98,000 and $102,000. If a breakthrough is achieved, it may be just a signal of continuing to rise after a brief adjustment. The current BTC trend remains strong bullish structure, including higher highs and higher lows, and there are no signs of destructiveness.

Discussions surrounding the $119,000 target price continue to ferment, as technical analysts notice potential extensions based on the Fibonacci structure.

Cryptobullet highlighted the bullish pattern at the weekly level, noting that Bitcoin has broken through the 1.272 Fibonacci expansion and is currently operating in the $98,000 to $104,000 range. The region had existed as a resistance from late 2024 to early 2025, but has now been converted to support after retesting.

As can be seen from the chart it shares, the next clear target is near the 1.618 Fibonacci expansion, about $119,000. He recently tweeted: "The weekly level strength! I think BTC will rise further." He pointed out that the price is running closely above the key support/resistance area, which is a positive signal for the trend to continue.

The overall market trend is still in a bullish trend. After the March and April 2025 pullbacks, Bitcoin formed new higher and lower points and began to push upwards, completing a clear push wave. This backtest structure is often seen as the basis for further gains as long as buyers can hold on to key support levels.

It is worth noting that the price of Bitcoin remained firmly above $104,000 at the close of this week, which added confidence to the bulls. Any performance that continues to fall below this level can lead to a short-term correction, or even test the $90,000 area. However, as long as Bitcoin can still maintain its conversion support level, the technology will still point to a higher trend in the future.

For traders who are concerned about the direction of the market, the region between $98,000 and $104,000 remains the main observation point. If Bitcoin can stabilize above this support band, the possibility of hitting the $119,000 target will be greatly increased. Both Crypto Patel and Cryptobullet pointed out that although adjustments may occur in the short term, the long-term structure still supports the trend continuation and deserves close attention in the coming weeks.

Trading volume, institutional capital inflows and macroeconomic indicators are still key factors in determining whether Bitcoin can break through the historical model and set new highs.

Please follow us on X (Twitter), CoinMarketCap and Binance Square to get more daily encryption information.

Click here to read our latest crypto market updates, news and technical analysis.

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