Despite the market's sideways movement, Bitcoin traders are growing more hopeful about the future of the cryptocurrency's price action, as evidenced by rising wedges and golden crosses.
Bitcoin traders expect fresh all-time highs, including $270,000, during current bull market.
The most recent BTC price estimates from popular market participants concur that BTC/USD will rise much over its current record.
Bitcoin traders agree that new all-time highs will come.
Bitcoin may be consolidating just above $100,000 following a flurry of macroeconomic and geopolitical surprises, but the consensus among traders is far from gloomy.
Far from the bull market being ended, many believe Bitcoin is ready for a new period of price discovery.
"Bitcoin is going upward in an Ascending Broadening Wedge," famous trader Alan Tardigrade concluded in his most recent analysis on June 15.
A recurrent trend on weekly timescales dating back to the beginning of the bull market in early 2023 was displayed in the accompanying chart.
A so-called "golden cross," in which the 50-day simple moving average crosses over the 200-day counterpart, was noted by another chart, this one the daily.
"Whenever it has happened since 2023, this signal has increased $BTC by 49%, 125%, and 68%," Tardigrade said.
Merlijn, a fellow trader, saw that the inverted head-and-shoulders pattern, a classic price-bottoming structure, was still in action.
This week, he told his X followers, "Breakout target? $140K+."
Getting ready for a bear market
However, some parties are becoming less certain about the bull run's actual support, as Cointelegraph keeps reporting.
The region surrounding all-time highs continues to easily produce price rejections, and comparisons to the close of the last bull market in late 2021 have started to emerge.
One of the most well-known Bitcoin bulls, Saifedean Ammous, author of "The Bitcoin Standard," warned corporate buyers earlier this month about the dangers of BTC exposure in a nod to future bad markets.
At the Bitcoin 2025 conference, he told the Coin Stories podcast, "I just hope my message out there to anybody in this business is, Bitcoin has done -70% and -80% previously, and it can do it again."
