BTC Eyes $190K as Rising Channel Structure Holds

Bitcoin is trading at $86,414, up 3.23% in the past 24 hours, with a market cap of $1.74 trillion.

A two-year rising channel structure contains every major swing since 2024, with a projected cycle target of $190,000.

Analyst Ali Martinez (@alicharts) notes that Bitcoin appears to have traded within this rising channel for the past two years.

The weekly chart shows the current BTC setup with precision, with price pulling back from the previous cycle high near $125,000 and recovering to approximately $86,414, still inside the channel.

A decisive monthly close above $125,000 would remove that ceiling and open the measured move to the channel's upper boundary at $190,000.

This BTC setup does not exist in isolation; Bitcoin's net realized profit recently hit $10.7B, its highest reading since November 2025, suggesting genuine profit-taking pressure at current levels.