Bitcoin (BTC) has sparked a renewed fervor in the market by breaking past the $123,000 barrier. A combination of favorable technical signals, increased liquidity, and macroeconomic factors has led analysts to forecast a potential ascend to a $140,000 peak in the upcoming weeks.
Bitcoin’s price is demonstrating unprecedented resilience as it continues its skyrocketing trend beyond the $123,000 mark. The predictions by crypto analyst Mr. Wall Street suggest a new short-term target of between $135,000 and $140,000.
According to the analyst’s chart report, BTC has convincingly emerged out of a Broadening Wedge pattern after nearly two months of consolidation between a descending support and horizontal resistance. This significant breakout above the $112,000 resistance confirms the analyst’s previous bullish predictions.
Initially, the analyst proposed two potential scenarios: A surge above $112,000 leading straight to a rally between $117,000 and $120,000, or a slight dip to $92,000 to fill the CME gap before continuing its upward trajectory. Recent price movements show that Bitcoin has opted for the first scenario, highlighting its robust bullish momentum and indicating that short-term Fear, Uncertainty, and Doubt (FUD) have had minimal impact. With the second scenario no longer a possibility, BTC’s price trajectory appears to be clearer and higher.
The recent surge beyond $123,000 has also brought attention to the next major liquidity pool between $135,000 and $140,000. The chart indicates that reaching this zone would result in the liquidation of over $45 billion in short positions, with the next target zone between $160,000 and $170,000 potentially causing another $70 billion in short liquidations.
Mr. Wall Street’s bullish outlook for Bitcoin is further reinforced by macroeconomic factors and key chart indicators. The analyst highlighted the recent approval by US President Donald Trump of a bill to raise the country’s debt ceiling—a move that indicates accelerated debt growth. This is expected to expand the M2 money supply, which historically has a positive correlation with the rising prices of assets like Bitcoin.
Furthermore, Bitcoin’s Moving Average Convergence Divergence (MACD) remains solid across all time frames, and the Market Value to Realized Value (MVRV) ratio is still well below historic top levels. The Relative Strength Index (RSI) has yet to enter overbought territory, confirming that Bitcoin is far from a macro top and making the $135,000 to $140,000 range a plausible target.
In the future, Mr. Wall Street emphasizes that Bitcoin has entered a supercycle—a phase characterized by price discovery. Despite the possibility of a short-term retest of the $112,000 level before continuing upward, the analyst insists that, regardless of minor setbacks, the price action from this point is likely to be swift and assertive.
