Bitcoin Could Skyrocket to $140,000 If This Key Level is Reached, Says Analyst
In a newly released chart, Elliott Wave expert and crypto analyst Big Mike (@Michael_EWpro) has mapped out a detailed trajectory for Bitcoin’s price movement.
Derar Hadri 
In a newly released chart, Elliott Wave expert and crypto analyst Big Mike (@Michael_EWpro) has mapped out a detailed trajectory for Bitcoin’s price movement. His analysis suggests that a break above $95,000 or a rebound from strong support near $72,895 could propel BTC toward the $130,000–$140,000 range.
Utilizing comprehensive wave counts, Fibonacci extension targets, and key moving averages, Big Mike provides a granular outlook on Bitcoin’s near- and mid-term price potential.
What’s Next for Bitcoin?
Big Mike’s Elliott Wave analysis showcases a five-wave impulse structure interwoven with corrective sub-waves. A crucial level near $72,895 corresponds to wave (c)(iv), which could serve as a major support zone if BTC drops below $78,000 and continues downward.
A consolidation phase appears to have formed between $85,000 and $95,000, signaling a potential precursor to Bitcoin’s next major price movement. The chart outlines an upside breakout scenario from $95,000, projecting impulse waves (3), (4), and (5) extending into the $100,000–$140,000 range.
Key Fibonacci Targets and Resistance Levels
- $114,693 (1.618 extension) is identified as a potential target for wave (3).
- A corrective dip to $102,000 could precede the start of wave (5).
- Wave (5) could push BTC toward $137,727 (2.618 extension), with the possibility of a final rally near $150,000, aligning with wave c(3).
Support, Resistance, and Market Structure
Bitcoin’s moving averages highlight a key support range between $72,000 and $90,000, with critical support near $78,000–$72,895. Meanwhile, the $90,000–$95,000 zone acts as a major resistance corridor.
Big Mike also identifies a descending wedge formation from mid-February to early March, spanning $95,000 down to $85,000. A bullish breakout from this pattern could signal a strong push toward six-figure territory.
Market Momentum and Analyst's Key Insights
- Volume profiles indicate low participation during recent corrective phases.
- Stochastic RSI remains neutral, suggesting that momentum could shift dramatically based on the next major price move.
- Big Mike highlights two crucial scenarios:
- A break above $95,000 could quickly trigger a move toward $130,000–$140,000.
- A drop below $78,000 may lead to a test of $72,895, followed by a sharp rally to $140,000.
Current Market Status
As of the latest update, Bitcoin is trading at $90,053, positioning itself at a critical juncture where the next move could define the mid-term price trajectory.
