{"id":22877,"date":"2025-04-20T07:46:38","date_gmt":"2025-04-20T07:46:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22877"},"modified":"2025-04-20T07:46:38","modified_gmt":"2025-04-20T07:46:38","slug":"bitcoin-price-bullish-confirmation-what-needs-to-happen-for-next-leg-up-to-130000","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22877","title":{"rendered":"Bitcoin Price Bullish Confirmation: What Needs To Happen For Next Leg Up To $130,000"},"content":{"rendered":"
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The Bitcoin price is on the edge of a major breakout<\/a>, with momentum building as it approaches major resistance. According to a recent technical analysis, the next leg up<\/a> could propel BTC toward $130,000; however, a few critical bullish confirmations are needed first.\u00a0<\/p>\n

Bitcoin Price Set For New $131,000 ATH Target<\/b><\/h2>\n

Crypto analyst Hov presented a new Elliott Wave technical analysis<\/a> of the Bitcoin price in a recent post<\/a> on X (formerly Twitter). According to Hov, the flagship cryptocurrency could surpass its previous all-time high of above $109,000<\/a> and reach $131,060 during this market cycle. <\/p>\n

The analyst has outlined a detailed roadmap for Bitcoin to hit this new target, emphasizing a bullish confirmation pattern supported by key technical indicators.\u00a0<\/p>\n

Hov remains optimistic about Bitcoin despite its recent downtrend and price crash<\/a>, citing the cryptocurrency\u2019s approach toward a key bullish confirmation as the driving force of his projection. The analyst disclosed that Bitcoin\u2018s slow grind upward has brought it just below a key resistance level<\/a> in the $89,000 \u2013 $94,000 range.\u00a0<\/p>\n

Examining the analyst\u2019s price chart, the structure from the recent low is developing as a potential diagonal pattern, typically regarded as a valid bullish confirmation formation in Elliott Wave Theory<\/a>. However, Hovs warns that the resistance is not the ideal level to initiate new positions as a trader.\u00a0<\/p>\n

\"\"<\/p>\n

Instead, traders should watch closely for a small leg higher to complete Wave 5 in the immediate time frame. This would mark the end of the short-term impulse and trigger a healthy Wave 3 pullback \u2014 a key part of the bullish confirmation.\u00a0\u00a0<\/p>\n

With Bitcoin currently in Wave 5<\/a>, the support of around $80,000 is now the most critical level to watch. A pullback that finds buyers at this level would confirm the strength and potentially set the stage for a powerful Inverse Head and Shoulder pattern<\/a> at the base of the chart.\u00a0<\/p>\n

<\/p>\n

Should Bitcoin hold $80,000 during the pullback and reclaim the $89,000 resistance, it would validate a larger Wave 3 move. This breakout would likely carry the price toward a 1:1 Fibonacci extension target at $94,000 as the first stop.\u00a0<\/p>\n

However, the real challenge lies ahead, with psychological and macro resistance near $100,000. A Higher Timeframe (HTF) close above this level would be a major bullish signal, opening a path toward new highs, with Fibonacci Extensions pointing to a possible top at $131,060.<\/p>\n

As Hov\u2019s chart outlines, if the wave structure continues to play out, Bitcoin could be gearing up for its most explosive breakout<\/a>. However, as stated, confirmation at key levels will be the deciding factor for whether this bullish setup becomes a reality.\u00a0\u00a0\u00a0<\/p>\n

Bitcoin Price Action Update\u00a0<\/b><\/h2>\n

The Bitcoin price is currently trading at $84,968, marking a modest 1.6% gain over the past week. Despite predictions of a price breakdown<\/a> due to the heightened volatility<\/a> resulting from recent political developments in the United States (US), the leading cryptocurrency remains resilient, aiming to break past critical resistance levels and reach new highs.\u00a0<\/p>\n

According to CoinCodex\u2019s data<\/a>, Bitcoin has shifted into neutral territory after previously being stuck in a bearish sentiment zone. While its Fear and Greed Index<\/a> still reflects uncertainty, the cryptocurrency maintains a broadly bullish outlook over the long term.\u00a0<\/p>\n

Featured image from Shutterstock, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price is on the edge of a major breakout, with momentum building as it approaches major resistance. According to a recent technical analysis, the next leg up could propel BTC toward $130,000; however, a few critical bullish confirmations are needed first.\u00a0 Bitcoin Price Set For New $131,000 ATH Target Crypto analyst Hov presented […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22877","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22877"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22877\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}