Bitcoin on the Move: Analyst Predicts $115,000 Price Target
Over the past week, Bitcoin has exhibited a steady range-bound movement, with prices hovering between $105,000 and $101,000. Despite this, the cryptocurrency managed to eke out a slight gain of 0.60%. This comes after a period of market consolidation following a significant 10.7% price jump in early May. Notably, crypto analyst Trader Alan, also known as TATrader_Alan, has identified a bullish pattern that suggests a potential price target of $115,000.
Earlier in 2025, Bitcoin experienced a sharp correction, plummeting from $109,000 in January to under $75,000 by mid-April. Since hitting a low of $74,600, the digital asset has staged an impressive recovery, surging by over 39.1% in the last month to reach a peak of $105,800.
In a recent post on May 16, Trader Alan pointed out an interesting technical trend in Bitcoin’s price movements. According to his analysis, Bitcoin tends to follow a pattern where it sees a $10,000 increase in value, followed by a period of consolidation lasting 7-10 days before resuming an upward trajectory.
This pattern has been evident in Bitcoin’s recent leaps from $75,000 to $85,000, then to $95,000, and most recently to $105,000. Based on this trend, Trader Alan predicts that Bitcoin could potentially reach $115,000 after breaking out of its current consolidation phase. This would represent a 10.57% increase from current levels and could signify a new phase of price discovery for the cryptocurrency.
Furthermore, the continued accumulation of Bitcoin by large holders, or whales, further supports the bullish outlook for the cryptocurrency. Reports indicate that on May 15, these whales acquired an additional 2,180 BTC worth $226,750,000, indicating strong confidence in the market.
As of the latest data, Bitcoin is trading at $103,281, with a slight decline of 0.90% in the past day. Despite this, the trading volume has decreased by 15.76%, suggesting a temporary dip in market interest.