Bitcoin’s first move above six figures in 2024 and its eventual all-time high near $126,000 have kept expectations for higher prices alive. Even with the price now trading below $100,000, long-term bullish momentum remains, and forecasts for a return to six figures and new highs persist.
Mapping the recovery, a TradingView post from Setupsfx highlights a bullish pattern after Bitcoin reclaimed $70,000 and broke above $72,000 with notably strong volume. That increased demand, the analyst says, supports the current uptrend and reduces the chance of a renewed crash if it holds.
From the present trend, the analyst sets a first major target at $104,000, pointing to a liquidity void in that area which could act as resistance. Breaking that level would open the path to the next target at $124,000—just below the recent all-time highs. The analysis then lists $134,000 as a final target that could complete this particular rally phase.
As for the $200,000 figure, Setupsfx argues it remains possible on a long-term view, despite skepticism. The nearer-term focus, however, is on clearing the $104,000–$124,000 range with the bullish volume backdrop as the key driver.
Source: TradingView. Featured image from Dall.E, chart from TradingView.com.
