Bitcoin Forms Inverted Head and Shoulders Pattern: Is 150,000 USD the Next Target?

Although the growth momentum of Bitcoin has slowed down in the past week due to escalating geopolitical tensions in the Middle East, this leading cryptocurrency seems to be forming a bullish head and shoulders pattern on the three-day chart - significantly increasing the likelihood of reaching a new record high (ATH) in the coming months. Is Bitcoin About to Reach a New ATH? In a post on X published today, cryptocurrency analyst Mister Crypto emphasized that BTC is forming an inverted head and shoulders pattern on the three-day chart. The analyst shared the following chart, noting that a successful breakout could push the price of Bitcoin up to $150,000.

For those who are unfamiliar, the inverse head and shoulders pattern is a bullish chart pattern signaling a potential reversal from a downtrend to an uptrend. It consists of three troughs, with a lower trough – referred to as the "head" – situated between two higher troughs – referred to as "shoulders." This is followed by a breakout above the resistance level known as the "neckline," indicating increasing buying pressure. Despite the ongoing volatility in the market, analysts remain optimistic. For example, renowned analyst Jelle points out that BTC has formed a large bullish flag above the previous highs - another positive technical signal.

BTC also benefits from the decreasing supply on trading platforms. In a post shared earlier today, cryptocurrency commentator Master of Crypto noted that the Bitcoin balance on exchanges is about to drop below two million - the lowest level since 2017. The depletion of BTC balances on exchanges indicates that investors are moving their Bitcoin into long-term storage, reducing the amount available for immediate sale. This supply constraint could create bullish pressure, especially if demand continues to rise. Meanwhile, another Bitcoin analyst, apsk32, emphasized the continuous correlation of BTC with the power curve cycle. Notably, Bitcoin has consistently followed this cycle for 15 years, and if this trend continues, the next cycle peak could occur in November or December 2025.

The Amount of BTC is More Important than the Price In a private post on X, the author of Rich Dad Poor Dad, Robert Kiyosaki, emphasized that the amount of BTC a person holds is more important than its current price. In a detailed thread, he predicts that Bitcoin could reach 1 million dollars by 2030. Although the price target of 1 million dollars seems ambitious, other analysts are also forecasting new highs in the near future. For example, analyst Carmelo Aleman from CryptoQuant recently predicted that BTC could peak at 205,000 dollars by the end of 2025.

Additionally, exchange data indicates an impending supply crisis, as whales continue to withdraw large amounts of BTC while the inflow of funds to exchanges remains low. At the time of reporting, BTC is trading at $104,359, down 0.1% in the past 24 hours.