Bitcoin’s Bullish Signals Suggest Potential $100,000 Run

Bitcoin (BTC) is showing strong momentum after three consecutive positive weeks, suggesting another potential upward surge. Historical data indicates an 18% to 26% gain over the next 13 weeks, which could push Bitcoin above $100,000 by year-end. Market commentator Krown highlighted that since 2012, Bitcoin has seen 47 instances of three consecutive green weeks, with historically favorable outcomes. Over longer periods, the probability of gains improves, reaching 75% after 26 weeks, with a median return of nearly 26% over 13 weeks.

Bitcoin also registered its highest weekly close in 35 weeks, another bullish signal. Previous occurrences of this pattern showed Bitcoin finishing higher 65%, 70%, and 75% of the time across various time frames, with median returns approaching 40% over 26 weeks. Krown views these signals as reinforcing each other and anticipates another push higher over the next three to six months. For October, he expects Bitcoin to reach at least $90,000, possibly around the middle of the month, though he sees limited statistical support for a move above $95,000.

Despite the bullish longer-term outlook, Krown cautions that Bitcoin could correct further in the short term. The first support zone is identified at $84,000 to $84,800, followed by $82,800. A deeper pullback toward $83,000 to $84,000 would still align with the broader bullish structure. Holding above $84,800 keeps $88,500 to $90,000 in play, while a break below $80,000 could weaken the setup. Sentiment remains neutral, far from levels typically associated with major market tops.