finbold.com
Bitcoin (BTC) has entered a short-term consolidation phase above the $100,000 mark. However, technical indicators and historical price movement suggest that the maiden digital asset still has the potential to add $50,000 to its value in the current cycle.
Amid this potential new high, Bitcoin has shown minimal movement on the daily chart. The asset has grown by a modest 0.8% to trade at $101,600 as of press time. On the weekly chart, BTC is up almost 4%.
Indeed, Bitcoin looks set to continue with the current bullish sentiment based on the technical setup. The asset is trading above its 50-day and 200-day simple moving averages (SMA), signaling bullish momentum both for the near and long term.
At the same time, market sentiment is overwhelmingly bullish, supported by an ‘Extreme Greed’ score of 83 on the ‘Fear & Greed Index.’
Bitcoin’s path to $150,000
Regarding the digital asset’s path to $150,000, this outlook is backed by the ‘3 Expansion Phases’ pattern formation, according to an analysis by trading expert TradingShot in a TradingView post on December 14.
Notably, the ‘3 Expansion Phases’ refer to periods of sharp upward price movement, separated by brief consolidations, forming a repeating pattern that signals the continuation of a bullish trend. According to the pattern, Bitcoin could trade at $150,000 before the summer of 2025.
TradingShot noted that Bitcoin is in its third ‘Expansion Phase’, marked by a mid-phase consolidation within the 0.382 – 0.5 Fibonacci range on the weekly chart—a pattern previously serving as a launchpad for higher moves as momentum builds.
Supporting this outlook, the one-week relative strength index (RSI) is again turning sideways, a signal that preceded surges in past cycles, suggesting room for further growth.
With Bitcoin trading near $101,000 and holding above key support like the 50-week MA, TradingShot predicted the Channel Up pattern could push Bitcoin to $150,000 before summer.
“This indicates that there is still plenty of room to rise. Based on that, a 150k Target is technically plausible before summer,” the expert said.
Bitcoin’s price institutional outlook
Indeed, the expert’s Bitcoin price prediction and this timeline partly align with several estimates by major institutions. For instance, as reported by Finbold, banking giant Standard Chartered projects Bitcoin will trade at $200,000 in 2025, a move that would likely see its market cap hit close to $4 trillion.
According to the bank’s analyst Geoff Kendrick, institutional capital inflows will primarily drive the price target.
In the same breath, on December 13, investment management firm VanEck noted that the current bull run will likely extend into 2025 and peak in the first three months of the new year. To this end, the entity projected that Bitcoin could hit a high of $180,000.
When looking at the short-term price projections, Bitcoin analysis shared by trading analyst Captain Faibik in an X post on December 14 observed that the asset would likely break out as it forms a classic ascending triangle pattern on the eight-hour chart.
The ascending triangle, characterized by a horizontal resistance line and a rising trendline of support, signals that buyers steadily push the price higher. At the same time, sellers struggle to maintain control at resistance levels.
This builds momentum, often resulting in a decisive breakout to the upside, with the analyst projecting the next target to be $112,000.
While market sentiments and fundamentals point to a bullish continuation for Bitcoin, CryptoQuant’s on-chain analysis identified periods when investors should exit their positions.
In a December 13 blog post, the onchain analysis platform warned that when Bitcoin’s supply ‘in loss’ drops below 4%, it signals the peak of the bull run and the time to begin selling aggressively.
“When the BTC supply loss % goes below 4% you should start dcaing aggressively out of BTC and wait for the next bear market lows,” the platform noted.
Reflecting on the previous bull market, which ended in late 2021, the platform noted that failing to sell during this phase resulted in missed opportunities to lock in profits and avoid the subsequent market crash.
In this case, the market is witnessing similar conditions, hence the need to be on the lookout. As things stand, Bitcoin’s new area of focus is the $100,000 support, as dropping below this level could signal additional losses.
Finally, with the current short-term consolidation, bulls can build on the current valuation and target the $105,000 zone.
Featured image via Shutterstock