Bitcoin May Rally Above $130,000 Amid Shakeout Pattern

Bitcoin's recent price movement has shown volatility, bouncing off a support level at $110,000 and currently trading around $112,200. This activity aligns with a shakeout pattern identified by analyst CrypFlow, which historically precedes significant bull runs.

Key Observations

Bitcoin briefly dipped to $110,800 before rebounding.
The price action indicates an attempt to break above a consolidation zone.
CrypFlow's analysis suggests Bitcoin experiences expansions followed by consolidations and shakeouts.
The stochastic RSI is nearing oversold levels, indicating potential bullish momentum.
Predictions suggest Bitcoin could surpass $130,000, representing a potential gain of about 15.8% from current levels.

Should Bitcoin reach $130,000, it may strengthen its support base near the all-time high of $124,000 before another consolidation phase.

Bitcoin Chart