The popular cryptographic analyst with the 10th nickname Plan D shared an fascinating forecast of Bitcoins’ support in cryptocurrency to reach a price of USD 167,000 based on the simultaneous creation of two stubborn charts.
In particular, the Bitcoin market has recently been shocked by a significant level of variability after waking up geopolitical tensions in the Middle East. The flagship cryptocurrency dropped below USD 103,000 on Friday, followed by a moderate price reflection.
Based on the pennant and Falling Wedge Formation: Bold Car 167,000 USD
IN X Post On June 13, Pland shares a rather intriguing analysis of Bitcoin prices, indicating that the most significant cryptocurrency remains up to date with a high price boost. According to a recognized commercial expert, the Bitcoin price campaign from the beginning of 2025 has next formed a falling wedge and stubborn formation of a pennant.
Compelling, both are positive patterns of charts indicating the upcoming breaking of prices. Planda analysis shows that the falling wedges are largely represented in the first trimester of pregnancy in 2025, in which Bitcoin experienced prolonged market correction before the double final reversal of prices, which pierced the wedge at the upper limit of USD 85,000.
After this reflection, Bitcoin began a sensational rally price to reach the fresh highest level in history 111 814 USD on May 22, representing the pole of a stubborn flag. However, since the price of this summit, the most significant cryptocurrency has fallen into the consolidal model, creating a side canal in the last two weeks, which represents the pennant.
According to the initial falling wedge, the Planda analysis suggests that Bitcoin is to reach the target price of USD 121,000. However, the analyst notes that this stubborn situation remains significant, provided that the most significant cryptocurrency remains above the lower limit of the pennant at USD 102,300.
If Bitcoin Bulls are able to maintain this price status, SPRD expects gradual progress of up to USD 121,000, and even outside the price of the Bull flag in the amount of USD 167,000. Interestingly, the analyst boldly supports the forecast, provided that the specific support is maintained regardless of the development of the message.
Bitcoin price perspective
During the BTC press, it trades at USD 104,960, which reflects only 0.15% of the inheritance on the last day. In the longer framework, cryptocurrency increased by 1.23% on a weekly chart and 2.10% on the monthly chart, which suggests that stubborn forces still retain the disappearing control over the market.
Related reading: Bitcoin flashes early buy signal? – The advanced UTXO ratio will drop violently after a local peak
To re -enter the price discovery phase, which maintains the current Crypto Bull, Bitcoin must exceed its current highest level in history. However, assets are currently fighting with a significant level of resistance in the USD 110,000 zone, which turned out to be effective after two rejections last week.
BTC trading at $104,951 on the daily chart | Source: BTCUSDT in TradingView.com
Recommended photo from Istock, chart from TradingView
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