Bitcoin (BTC) has recently achieved a historic milestone, closing January above the $100,000 mark for the first time. This significant achievement has prompted analysts to project further upward momentum for the leading cryptocurrency.
Trading expert Gert van Lagen has identified a breakout from a long-term bullish “megaphone pattern” on Bitcoin’s two-week chart. This pattern, characterized by widening price swings with higher highs and lower lows, suggests the possibility of Bitcoin reaching a record high of $271,000. The upper resistance trendline of this pattern is around the $120,000 level. A successful breakout and retest of this level as support could pave the way for new all-time highs, with intermediate resistance anticipated between $140,000 and $150,000.
As of February 15, 2025, Bitcoin is trading at approximately $97,530, reflecting a slight decrease of 0.43% from the previous close. Despite this minor dip, the cryptocurrency remains above the crucial $100,000 threshold, maintaining its bullish momentum.
In addition to technical indicators, macroeconomic factors are also influencing Bitcoin’s trajectory. The recent election of President Donald Trump, who is expected to implement a favorable regulatory environment for digital assets, has bolstered market sentiment. Analysts anticipate that pro-crypto policies could lead to increased mainstream adoption and institutional investment, potentially driving Bitcoin’s price even higher.
While the outlook appears optimistic, market participants are advised to exercise caution due to potential volatility arising from geopolitical events and regulatory developments.
