TA Signals: Bitcoin May Be Gearing Up for a 30% Price Jump

Bitcoin Poised for Potential Run Toward $140K as BlackRock’s IBIT ETF Signals Breakout

Bitcoin (BTC) has climbed past $111,000, and technical signals hint the rally could extend significantly higher. A breakout pattern in BlackRock’s spot bitcoin ETF (IBIT) is pointing to a possible 30% price surge, potentially lifting BTC above $140,000 in the weeks ahead.

IBIT, which tracks bitcoin’s spot price, rose 2.85% on Wednesday, briefly exceeding its May high of $63.70. This move confirmed a bull flag breakout on IBIT’s daily chart—a technical formation known for suggesting the continuation of upward trends after consolidation periods.

Chart Patterns Suggest Strong Upside

The bull flag developed over a five-and-a-half-week trading range beginning in May. Now that the breakout is confirmed, chart analysts estimate potential gains using the measured move method, projecting roughly 30% upside based on the size of the prior rally.

Such a move would place bitcoin well into $140,000 territory, reinforcing the optimism among traders and institutions. However, analysts caution that unexpected shifts in broader markets or risk sentiment could derail the bullish scenario and push BTC back into its earlier range.

Veteran Analyst Adds to Bullish Case

Veteran chartist Peter Brandt has also flagged bitcoin’s current setup as bullish, suggesting the cryptocurrency could reach $134,000 if momentum holds and buyers step in at key levels.

With ETF inflows rising and macroeconomic uncertainty potentially easing, investors are watching closely to see if bitcoin can sustain this latest push toward new highs.