Analysis: Traders remain optimistic, predicting that Bitcoin is likely to reach 140 thousand USD in the near term
Powered by ChatGPTAccording to ChainCatcher news and Cointelegraph reports, even with the market consolidating sideways, Bitcoin traders are not pessimistic about Bitcoin's price trend. The current community consensus is not bearish; rather, it believes the bull market is far from over. Many think Bitcoin is preparing for a new round of price discovery. Trader Alan Tardigrade states that Bitcoin is exhibiting an ascending expanding wedge upward trend. Since 2023, whenever this signal appeared, Bitcoin rose by 49%, 125%, and 68%, respectively. Another trader, Merlijn, pointed out that Bitcoin's current trend shows a classic price bottom structure in the form of an inverted head and shoulders pattern, with a recent target price potentially reaching 140 thousand USD.