Analysis: Crypto Community Consensus Not Bearish as Traders Optimistically Predict BTC Could Soon Reach $140,000

Even as the market moves sideways, Bitcoin traders remain optimistic about the price trend. The current community consensus is not bearish; instead, many believe the bull market is far from over and that Bitcoin is preparing for a new round of price discovery. Trader Alan Tardigrade noted that Bitcoin is exhibiting an ascending broadening wedge pattern, and each time this signal has appeared since 2023, Bitcoin has risen by 49%, 125%, and 68%, respectively. Another trader, Merlijn, pointed out that Bitcoin is currently forming a classic price bottom structure in the shape of an inverted head and shoulders, with a near-term target price potentially reaching $140,000. (Cointelegraph)