Bitcoin’s Bold Rally: Could $150k Be Next?

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After a hefty pullback this week and a bottom near $74,000, Bitcoin (BTC) now seems to be nudging its way toward the old gatekeeper of resistance at about $80,600. According to Tara’s technical readings, the thing still looks buoyant, like a traveler who insists the map is seductive even when the compass has gone on strike. She sketches targets that could be within reach if momentum keeps prancing forward, and marks invalidation zones that traders pretend to take seriously before coffee.

Bitcoin To Test Key Resistance After Double Bottom

On a Monday X post, Tara flagged a classic double bottom around $74,000, following last week’s price tumble. The crypto is now inching upward from that patch of ground and approaching its next resistance like a hiker eyeing a distant ridge-slightly breathless, but undaunted.

Tara says the market is entering the final stages of its long corrective cycle. Consequently, she sketches both bullish and bearish scenarios for BTC’s next moves, depending on how the price behaves at those key pinch points.

The analyst foresees a three-step movement. First, Bitcoin should climb toward the Wave A resistance near $80,600. Then a modest retracement down to about $77,600. After that, a bullish reversal above the $80,000 region, with a run toward the 0.382 macro Fibonacci level, which sits roughly at $83,700.

Tara’s forecast doesn’t stop there. After this initial climb to around $83,700, she expects one final pullback to the macro 0.5 support near $70,700. She labels this area the Wave 4 invalidation level, noting it wouldn’t be shocking for Bitcoin to test this new low as support before entering Wave 5.

Invalidation Levels And Wave 5 Expectations

When asked by a community member what Bitcoin’s next move could be if it drops further and invalidates Wave 4, Tara replied that even if Bitcoin targets Wave 2 lows, it will still find and hold support at $70,700. She added that the cryptocurrency would inevitably test the $100,000 level, which would be a defining moment for the asset.

The analyst also shared her bullish target for Wave 5. She forecasted that once Bitcoin enters this final wave, it could surge to $150,000. She added that if the price were to drop to the $70,700 support level, then the Wave 5 target would adjust slightly to about $145,000, still marking a fresh all-time high for BTC.

As of now, Tara says Bitcoin is filling up support at every macro level. She noted that it has already filled the 0.236 and 0.382 Fibonacci support levels and is now targeting the final 0.5 Fib support. The analyst also emphasized that Bitcoin’s $150,000 Wave 5 target has not changed since the Wave 3 top, reinforcing the cryptocurrency’s long-term bullish outlook.

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2026-02-05 03:41