Bitcoin Holds Above $107,000 as Analysts Predict Potential $120K Rally

Bitcoin is currently trading at $107,242, up 1.3% in the past 24 hours and 2.7% over the week. The asset is attempting to reach its all-time high above $111,000 after a brief dip.

Analyst İbrahim COŞAR noted Bitcoin reclaimed the 50-day Exponential Moving Average (EMA), a positive indicator for short-term price trends.
Historically, regaining this level has led to gains of 10% to 20% shortly thereafter.
COŞAR warned of potential volatility due to geopolitical uncertainties involving the U.S., Israel, and Iran, advising caution with leveraged positions.
Independent analyst Captain Faibik identified a bullish flag pattern, suggesting a possible breakout while anticipating a correction to the $97,000–$98,000 range before further upward momentum.
A confirmed breakout above $108,000 would indicate a target of $130,000.

Both analysts agree that Bitcoin remains in a bullish phase, supported by technical trends and increased institutional investment inflows.