Bitcoin (BTC) Price Eyes Rally Above $100,000 With Potential Bullish Reversal

Crypto analyst Madden has raised the possibility of the Bitcoin price rallying above $100,000 again, providing a bullish outlook for the flagship crypto.

Crypto analyst Madden has discussed the possibility of the Bitcoin (BTC) price rallying back above $100,000, providing a bullish outlook for the flagship crypto. His analysis showed what is coming next for BTC and how it could reach this psychological price level.

Bitcoin Price Aims For Triple-Digit Figure Again As Reversal Likely- Chart Shows

In a recent post on TradingView, Madden said that the Bitcoin price was eyeing a rally above $100,000 with a reversal now looking likely. His accompanying chart showed that $91,700, $102,700, and $109,356 are potential price targets which BTC could hit as it reverses to the upside. A rally to $109,356 would mark a new all-time high (ATH) for the flagship crypto.

The crypto analyst alluded to some charts with important levels and relevant patterns to determine if the reversal is confirmed for the Bitcoin price. On the daily chart, he highlighted a Deep-Crab harmonic and Wolfe wave pattern to identify the reversal points. The Deep Cran pattern showed that BTC likely bottomed out when it touched $76,600, with the reversal now in play.

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He also alluded to the CME daily chart. There is a daily retest of the 200-day moving average (MA) and the CME gap between $77,000 and $80,000 has been filled, rendering no reason for BTC to drop that low again. Meanwhile, BTC is currently above the 2022 and 2024 top support line.

BTC Roadmap For The Coming Years

As part of his analysis, Madden also provided a roadmap and future outlook for the Bitcoin price. His accompanying chart showed that the flagship crypto could top out at around $125,000 in this market cycle. Based on the chart, BTC will reach this price target by year end. Crypto expert Willy Woo also once suggested that Bitcoin could reach this target, as he described it as conservative.

The chart also showed that the Bitcoin price could enter into a bear market by 2026, dropping from the projected peak of $125,000 to as low as $40,000. This price drop to $40,000 could happen before 2026 ends.

In the meantime, the bullish reversal for the Bitcoin price is the major focus of market participants. Crypto analyst Ali Martinez said that BTC is breaking out. He added that the target is $90,000 as long as the $84,000 support holds.

Crypto whales are already positioning themselves for the potential reversal of the Bitcoin price to $90,000. Martinez revealed that these whales have bought over 20,000 BTC in the last 48 hours.