Bitcoin Price Consolidating On Top: Another Rally Or Profit Booking?

• Bitcoin price has remained green for three consecutive days.
• Buyers are trying to defend the $90K level which could initiate a bullish rally.

Bitcoin (BTC) price has displayed a strong bullish rally for a longer time frame. This bullish momentum was interrupted near the $100K mark and has kept consolidating. However, the Bitcoin price has triggered a breakout from the $100K mark once but failed to continue.

BTC price underwent a consolidation phase after a sharp rally. Analysts expect a bullish rally after the breakout from this zone.

Bitcoin Price Keeps Potential to Climb 35%: Analyst Weighs in

Jason A. Williams is a crypto analyst who claims that the price has entered the accumulation phase. He believes that a sharp bullish move needs a few weeks of consolidation. Here, the consolidation phase could set the stage for a directional momentum.

Based on the chart structure, the BTC price kept rising by experiencing a correction phase on a 2-D time frame. After every correction, the price has displayed strong bullish momentum.

The price has clearly entered a consolidation phase. After a successful breakout, the price is expected to hit the $131.5K level according to this analyst.

Will History Repeat?

A crypto analyst named Kevin Svenson has shared his analysis on X about Bitcoin. He claims that the price took support on the 50-day EMA in 2021 and witnessed strong bullish momentum.

The same scenario was generated in 2025 on a daily time frame. Recently, the price took support on the 50-day EMA. If buyers generate bullish momentum on the EMA, it could turn into a buying opportunity.

Bitcoin Price Overview: Let’s Talk About Forecast

When writing, Bitcoin was trading at $97,160.00 which rose by 2.77% over the past 24 hours. The market capitalization was $1.92 Trillion and the 24-hour trading volume was $37.61 Billion.

BTC price was taking support on a major support level of $90K and has formed three consecutive green candles. Amid this bullish momentum, the price has surpassed the 2-day EMA.

If the price breaks out from the $100K mark, it could be a buying opportunity. Also, if the price holds over the $100K mark, another rally should be anticipated. Additionally, after a breakout, the price could record a new all-time high (ATH).

Conversely, if the price slips below the major support level of $90K, sellers may dominate. Here, most investors and traders might prefer to book profit which could lead to strong selling pressure.

BTC Price Analysis and Forecast

Bitcoin is currently in a critical consolidation phase, having managed to maintain momentum above the $90K support level. Analysts are optimistic about a potential bullish rally, especially if the price can break and hold above the $100K mark.

The accumulation phase is seen as a precursor to significant upward movement, with price targets potentially reaching as high as $131.5K if bullish momentum is sustained. However, traders should remain cautious, as slipping below the $90K support could trigger profit-taking and increased selling pressure.

Overall, the coming weeks will be pivotal in determining if Bitcoin can initiate another rally or if profit-booking will take precedence.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.