Bitcoin has recently regained $110,000 and is slowly gaining momentum again. Traders and analysts are watching to see if it will break above $116,000. If it does, the price could rise another 52.5% before the current bull cycle ends.
At the time of writing, BTC sits at $108,195, up 0.64% over the past 24 hours, and showing many bullish signs on technical charts and on-chain sentiment.
The recent Bitcoin price movement has remained above key Fibonacci levels, and top crypto analysts predict it could rise as high as $165,000. The next few days might be crucial for the flagship digital asset.
BTC Momentum Strengthens Near $108K
In the last 24 hours, the price of Bitcoin has increased by about 0.65%, reaching $108,195 on CoinMarketCap.
This slight rise comes after some initial concern about $8 billion in dormant Bitcoin being moved, which turned out to be ordinary transfers made by long-term holders rather than AI-driven hacks. This explanation helped clear up confusion in the market.
Bitcoin’s 7-day simple moving average (SMA) is $107,870, while the 30-day SMA is $106,177. This shows that the price is rising strongly in the short term.
The MACD histogram also shows a positive value of +279, which means momentum is increasing. The RSI is around 55, meaning that there is still room for the price to rise without becoming overbought.
READ MORE: Uniswap Price Slumps as Regulatory Crackdown and Technical Weakness Collide
Bitcoin Price Prediction: $116,000 Is the Key Level to Watch
Crypto analyst Javon Marks, in a recent tweet, emphasized that $116,652 is the key level to watch. If BTC breaks above this zone with convincing volume and momentum, his model projects an explosive rally to $165,745. This potential surge is supported by strong bullish signals forming just below the $116,000 resistance level.
Mark’s prediction is rooted in historical breakout behavior and a bullish market structure that mirrors the midpoints of previous BTC cycles.
“With these signals, a break above could be in the works — and that would introduce $165,000+ into play,” he noted. If this happens, the Bitcoin price will have to increase by approximately 52.5% from its current level.
Several long-term indicators, like analyst Julien Bittel’s “GMI Bitcoin Cycle Top Finder,” are currently inactive. This rarely happens and often comes before big price changes. This suggests that Bitcoin may still be in the middle of its cycle, indicating it has room to grow before a major peak is reached.
Short-term traders have also noticed a bull flag pattern forming on the hourly chart. A breakout above $111,980 could invalidate the consolidation pattern and kickstart a rally toward $120K–$145K, or even the upper end of Javon Marks’ target range above $160K.
READ MORE: Dogwifhat: WIF Price Nears a 155% Breakout: Is BPEP Next?
