In the last week, Bitcoin showed a range-bound movement, with prices oscillating between $105,000 and $101,000, producing a slight gain of 0.60%. Notably, the flagship cryptocurrency has seen a market cool-off in the past two weeks following a 10.7% price leap in early May. An interesting development has emerged, highlighted by a crypto analyst known as Trader Alan, who suggests a bullish pattern that may target a price of around $115,000.
Bitcoin Climbs With Precision: $115,000 May Be The Next Stop
Amidst an extended crypto market correction in 2025, Bitcoin prices crashed from $109,000 in January to less than $75,000 by mid-April. However, since hitting a local bottom at $74,600, the premier cryptocurrency has demonstrated an impressive market rebound, rising over 39.1% in the past month to reach a local peak of $105,800. On May 16, Trader Alan provided intriguing technical insights into this uptrend, underscoring that Bitcoin has shown a consistent pattern of price movement following a surge, particularly emphasizing a dollar leap followed by a consolidation phase.
This bullish behavior has been evident in Bitcoin’s past movements, such as its jumps from $75,000 to $85,000, then $95,000, and more recently to $105,000. By following this pattern, the crypto market leader is poised to target the $115,000 mark after breaking out of its current price consolidation. Should this projection materialize, Bitcoin would achieve a gain of approximately 10.57% from current prices, entering into a new price discovery phase. Such price movements are characteristic of a strong uptrend, marked by healthy pauses that allow for traders to accumulate assets in anticipation of the next upswing.
Importantly, these consolidation zones often become new support levels, reinforcing the bullish market structure. This phenomenon not only reflects traders’ confidence but also sets the stage for continued upward momentum in Bitcoin’s price.
Bitcoin Whales Keep Stacking
In other noteworthy developments, top OKC Partner and Binance influencer Ted Pillows has reported that Bitcoin whales are continuing their streak of accumulation. On May 15, the largest Bitcoin holders acquired an additional 2,180 BTC, valued at approximately $226,750,000. This activity signals robust market confidence among big players in the crypto space.
Typically, significant accumulations by Bitcoin whales are seen as bullish indicators, particularly in light of the current uptrend. This reinforces Trader Alan’s optimistic predictions for Bitcoin’s future performance. As of now, Bitcoin trades at $103,281, reflecting a 0.90% decline over the last day. Concurrently, the asset’s trading volume has dipped by 15.76%, suggesting a decrease in market interest and activity.
