Bitcoin Shows Slight Gain as Price Targets $115,000 Following Consolidation

In the past week, Bitcoin's price fluctuated between https://holder.io/coins/btc/ $105,000 and $101,000, resulting in a slight gain of 0.60%. The cryptocurrency experienced a cooldown after a 10.7% increase in early May. Analyst TATrader_Alan predicts a bullish trend with a target around $115,000.

Price Movements and Projections

Bitcoin fell from $109,000 in January to under $75,000 by mid-April but has since rebounded over 39.1%, reaching a local peak of $105,800. Notable points include:

After reaching a local bottom at $74,600, Bitcoin showed resilience.
The price typically surges by approximately $10,000 followed by 7-10 days of consolidation.
This pattern has been observed in previous jumps: from $75,000 to $85,000, then $95,000, and $105,000.
A breakout could lead to a 10.57% increase towards the $115,000 target.

Whale Accumulation

Bitcoin whales continue to accumulate, with significant purchases reported. Key highlights are:

On May 15, large holders acquired 2,180 BTC valued at $226,750,000.
Such accumulation is viewed as a bullish signal, supporting the potential for price appreciation.
Bitcoin currently trades at $103,281, reflecting a 0.90% decline over the past day.
Trading volume is down by 15.76%, indicating reduced market interest.