Bitcoin is currently experiencing a correction after nearing the $100,000 mark. Technical analysis reveals a bullish pennant forming on the 3-day price chart, indicating potential for a significant breakout.
The recent Bitcoin price fluctuation resulted in a small bull pennant, with Analyst Trader Tardigrade highlighting its potential on social media, suggesting a breakout could drive prices to $145,000.
The pattern implies Bitcoin may continue consolidating, but once the pennant is completed, it could surge towards the target.
Despite the recent correction, reaching $100,000 seems imminent, with the upcoming $13.6 billion options expiry potentially providing momentum for another rally.
