Bitcoin traders predict ‘strong run-up’ as classic chart targets $113K

Bitcoin (BTC) is currently locked in a phase of consolidation following its recent price movements, but institutional traders and retail analysts are overwhelmingly predicting a significant continuation of the rally. The consensus among technical analysts points toward a ‘strong run-up’ beginning shortly, driven by persistent supply shocks and increasing institutional demand. Crucially, a long-standing technical chart pattern—often referred to in trading circles as a classic expansionary setup—has set an aggressive long-term price target. This measured move calculation, derived from analyzing previous cycle bottoms and subsequent parabolic advances, places the next major psychological and technical resistance level squarely at $113,000. Traders are monitoring key on-chain metrics, noting that despite high short-term leverage, the fundamental accumulation phase remains intact, bolstering confidence that the market structure is poised for a major bullish breakout when macroeconomic conditions stabilize.

Source: Bitcoin traders predict ‘strong run-up’ as classic chart targets $113K