Analysis: The bull market is far from over, traders predict $BTC may reach $140,000 soon

According to Cointelegraph, even if the market is consolidating, Bitcoin traders are not pessimistic about Bitcoin's price trend. The current community consensus is not bearish, and many believe the bull market is far from over, with many thinking Bitcoin is preparing for a new round of price discovery.

Trader Alan Tardigrade stated that Bitcoin is showing an upward expanding wedge trend, and whenever this signal appears since 2023, Bitcoin has risen by 49%, 125%, and 68% respectively. Another trader, Merlijn, pointed out that currently, Bitcoin's price trend is showing a classic price bottom structure in the form of a head and shoulders pattern, with a near-term target price of $140,000.