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bitcoin

Bitcoin Headed To $135,000? Analyst Uses Fibonacci Extension To Make the Case

Ash Tiwari
by Ash Tiwari
4 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) has surged more than 10% over the past seven days and is currently trading in the low $90,000 range. Crypto analyst Titan of Crypto suggests that further gains may be on the horizon based on Fibonacci extension levels.

Bitcoin May Climb To $135,000

In a post published on X today, Titan of Crypto outlined Bitcoin’s potential path to $135,000. Using Fibonacci extension levels, the analyst predicts that the flagship digital asset could surge as high as $135,109 by July-August 2025.

Related Reading: Bitcoin Price Volatility Ahead: Will BTC Crash Or Rally? Analysts Weigh In

For the uninitiated, Fibonacci extension levels are technical analysis tools used to identify potential price targets during strong trends by projecting key Fibonacci ratios beyond a recent price swing. Traders use these levels to anticipate where an asset might find resistance or complete a move after a breakout.

According to the following weekly BTC chart shared by Titan of Crypto, a 100% Fibonacci extension from Bitcoin’s recent retest of the $76,000 support level projects its next major target near $135,000.

titan
Source: Titan of Crypto on X

The chart highlights similar price behavior from August 2024, when BTC surged nearly 100%, setting a new all-time high (ATH) around $73,000 by November 2024. If the current trend follows a similar trajectory, BTC may post a new ATH by July 2025.

Other crypto analysts also predict positive price action for the leading digital asset. For example, crypto analyst Jelle shared a chart showing BTC breaking through a downside deviation.

jelle
Source: Jelle on X

Jelle noted that BTC is giving bulls “exactly what they want to see.” Following the recent rally, BTC experienced a shallow pullback and appears poised to confirm a range-low reclaim before potentially pushing higher. The analyst added that BTC could next test resistance near $100,000.

Binance Data Indicates An Upcoming Short Squeeze

Adding to the bullish case is trading data from Binance. According to a CryptoQuant Quicktake post by Novaque Research, BTC outflows from the exchange have risen significantly since April 19.

Related Reading: Bitcoin Approaches Key Inflection Point Amid Growing Optimism – $95,000 In Sight?

The surge in withdrawals is backed by declining exchange reserves, suggesting reduced short-term selling pressure and a market increasingly driven by retail participants. The post states:

High-leverage longs were flushed out between $82K and $88K, indicating that weak hands had been eliminated. Large short positions remain susceptible above $92,000, creating the possibility of a short squeeze, which might act as the next step higher.

Broader macroeconomic factors could also contribute to BTC’s upside. For instance, rising concerns over the US Federal Reserve’s autonomy may drive investors toward decentralized assets like Bitcoin. At press time, BTC trades at $93,302, up 0.8% in the last 24 hours.

bitcoin
BTC trades at $93,302 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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