Popular crypto analysts with X pseudonym Plan D have shared an interesting prediction by bitcoin that supports Cryptocurrency to achieve a price of $ 167,000 based on simultaneous formation of two haussearted map patterns.
Noteworthy, the Bitcoin market has recently been rocked by significant volatility levels following a resurrected geopolitical tension in the Middle East. The flagship Cryptocurrency crashed to under $ 103,000 on Friday, which was followed by a moderate price recovery.
Bullish Pennant and Falling Wedge Formation: The Audmious $ 167,000 Target
In one X post On June 13, Plan shares a rather exciting bitcoin price analysis that suggests Premier Cryptocurrency remains on the course for one Great price increase. According to the famous trading expert, Bitcoin’s price measure has been in a succession wedge since the beginning of 2025 and a falling penny formation.
Interesting, both are positive diagram patterns that indicate an imminent price eruption. Pland’s analysis shows that the falling wedge formation is largely represented in the first trimester 2025, where Bitcoin experienced a long -term market correction before a double possible price change that broke through the wedge at $ 85,000 upper limit.
After this recovery, Bitcoin started a sensational price collection to achieve a new highest time of $ 111,814 on May 22, which represented Poland for a haus -like flag pattern. But since he hit this price stop, the main Cryptocurrency has slipped into a downward consolidating pattern and formed a sideways duct over the past two weeks that represents the pennant.
In line with the first falling wedge, the Plland’s analysis suggests that bitcoin is expected to achieve a prize target at $ 121,000. However, the analyst notes that this Hausse situation remains valid only, provided that the main Cryptocurrency stays over the lower limit of the Vimpelers to $ 102,300.
If Bitcoin Bulls can hold this price status, Pland expects a gradual progress to $ 121,000 and even in addition to the Bull Flag price target of $ 167,000. Interestingly, analysts boldly support the prediction, provided that the stated support is maintained regardless of news development.
Bitcoin Price Outlook
At press time, BTC is $ 104,960, which reflects only 0.15% decline over the past day. On longer time frames, the main Cryptocurrency is increasing by 1.23% on the week diagram and 2.10% on the monthly chart, suggesting that haus -like forces still retain a fading market.
Related Reading: Bitcoin blinks early buy signal? – Advanced UTXO relationship drops sharply after local top
In order to re -enter a price petting phase that maintains the ongoing crypto bull run, Bitcoin must break over its current highest time. However, the asset is currently struggling with a significant level of resistance at $ 110,000 zoneWhich has proven to be effective after two rejections over the past week.
BTC trading at $104,951 on the daily chart | Source: BTCUSDT in TradingView.com
Image from iStock, chart from tradingview
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