Bitcoin (BTC) has climbed more than 10% in the past seven days and is currently in a low -incidence of $ 90,000. Crypto's crypto analysts suggest that additional gains may be reached based on Fibonacci extension levels.
Bitcoin can climb to $ 135,000
In a Post Published in X today, Crypto Titan outlined the potential path of Bitcoin to $ 135,000. Using Fibonacci extension levels, the analyst predicts that the flagship of the digital asset can advance as high as $ 135,109 July-August 2025.
For the uneducated, Fibonacci extension levels are technical evaluation tools used to identify potential price targets during strong trends by promoting the basic fibonacci ratios beyond a recent swing swing. Businessmen use these levels to expect which an asset can find resistance or complete a move after a breakout.
According to the next week's BTC chart shared by Titan of Crypto, a 100% fibonacci extension from the recent Bitcoin retesting of a $ 76,000 support level of projects to the next major target near $ 135,000.
The chart features similar price behaviors since August 2024, when the BTC advanced nearly 100%, setting a new all-time high (ATH) around $ 73,000 in November 2024. If the current trend follows a similar trajectory, BTC can post a new ATH on July 2025.
Other crypto analysts also predict positive price action for the leading digital asset. For example, crypto analyst Jelle shared a BTC chart that drops a downside deviation.
Jelle mentioned That BTC gives bulls “exactly what they want to see.” Following the recent rally, BTC experienced a shallow pullback and appeared to be poised to confirm a range-low reclaim before potentially pushing higher. The analyst added that the BTC may next test resistance near $ 100,000.
Binance data indicates an upcoming short squeeze
Adding In the case of bullish are trading data from Binance. According to a Cryptoquant Quicktake post of Novaque Research, BTC outflows from the exchange have increased significantly since April 19.
Removal advances are supported by refusing exchange reserves, suggesting a reduced short-term pressure sale and a market that is increasingly driven by retail participants. The post states:
Long longs flush between $ 82k and $ 88k, indicating that weak hands are removed. Large short positions will remain susceptible to the top of $ 92,000, creating the likelihood of a short squeeze, which can act as a higher step higher.
More widespread macroeconomic factors can also be Contributing to the reversal of BTC. For example, increasing US Federal Reserve autonomy concerns May Drive investors towards decentralized property -likes such as Bitcoin. At the time of press, BTC traded at $ 93,302, up to 0.8% in the last 24 hours.
Featured image from unsplash.com, charts from X and TradingView.com
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