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Double Bullish Pattern Tips Bitcoin For $167,000 Target – Analyst

n70products by n70products
June 15, 2025
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Double Bullish Pattern Tips Bitcoin For 7,000 Target – Analyst
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Well-liked crypto analyst with X pseudonym Plan D has shared an fascinating prediction of Bitcoin backing the cryptocurrency to realize a $167,000 worth goal primarily based on the concurrent formation of two bullish chart patterns. 

Notably, the Bitcoin market has been lately rocked by important ranges of volatility following a reawakening of geopolitical tensions within the Center East. The flagship cryptocurrency crashed to under $103,000 on Friday, which was adopted by a average worth rebound. 

Bullish Pennant And Falling Wedge Formation: The Audacious $167,000 Goal

In an X post on June 13, PlanD shares a reasonably intriguing Bitcoin worth evaluation hinting the premier cryptocurrency stays on target for a major price surge. In accordance with the famend buying and selling knowledgeable, Bitcoin’s worth motion for the reason that starting of 2025 has consecutively created a falling wedge and bullish pennant formation.

Attention-grabbing, each are constructive chart patterns indicating an impending worth breakout. PlanD’s evaluation reveals the falling wedge formation is basically represented within the first trimester of 2025, the place Bitcoin skilled a protracted market correction earlier than a double eventual worth reversal that broke via the wedge on the $85,000 higher boundary. 

Bitcoin
Supply: @cryptododo7 on X

Following this rebound, Bitcoin launched into a sensational worth rally to realize a brand new all-time excessive at $111,814 on Could 22, representing the pole of a bullish flag sample. Nonetheless, since hitting this worth peak, the premier cryptocurrency has slipped right into a downward consolidatory sample, forming a sideways channel over the previous two weeks that represents the pennant.

According to the preliminary falling wedge, PlanD’s evaluation suggests Bitcoin is expected to attain a price target of $121,000.  Nonetheless, the analyst notes that this bullish scenario stays solely legitimate supplied the premier cryptocurrency stays above the decrease boundary of the pennant at $102,300. 

If Bitcoin bulls are capable of maintain this worth standing, PlanD expects a gradual progress to $121,000 and even past to the bull flag worth goal of $167,000. Curiously, the analyst boldly backs the prediction supplied that the required assist is maintained no matter information developments. 

Bitcoin Value Outlook

At press time, BTC trades at $104,960, reflecting a mere 0.15% decline prior to now day. On longer timeframes, the premier cryptocurrency is up by 1.23% on the weekly chart and a couple of.10% on the month-to-month chart, suggesting that bullish forces nonetheless retain a fading management of the market. 

Associated Studying: Bitcoin Flashes Early Buy Signal? – Advanced UTXO Ratio Drops Sharply After Local Peak

To re-enter a worth discovery part that sustains the continued crypto bull run, Bitcoin should break above its present all-time excessive. Nonetheless, the asset is at present contending with a big resistance degree on the $110,000 zone, which has confirmed efficient following two rejections prior to now week.

Bitcoin
BTC buying and selling at $104,951 on the day by day chart | Supply: BTCUSDT in TradingView.com

Featured picture from iStock, chart from Tradingview

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