Analyst: As the accumulation trend of BTC enters its final phase, Bitcoin is expected to pump to $120,000.

As Bitcoin (BTC) approaches the historical high (ATH) of $108,786 set in early January this year, multiple indicators suggest that the ongoing bullish momentum may soon drive the top cryptocurrency to new highs.

Cryptocurrency analyst Ted Pillows recently emphasized in an article on the X platform that BTC has entered the final stage of the Wyckoff accumulation phase. Pillows believes that Bitcoin's continued consolidation above $100,000 is a "good sign."

He also pointed out that Tether recently issued an additional 2 billion USDT, which means new liquidity may soon enter the digital asset market, potentially pushing Bitcoin's next price surge to above 120,000 USD.

The Wyckoff accumulation pattern is a technical analysis model that shows large investors accumulating at lower prices before a major uptrend (in this case, BTC). This pattern typically presents as consolidation, false breakouts, and the final breakout that signals the start of a bull market.

Cryptocurrency analyst Jelle also expressed the same view as Pillows. In another article on X, Jelle shared the following BTC monthly chart, suggesting that once it breaks through the current historical high, this leading cryptocurrency will enter a price discovery phase.

If BTC breaks through the key resistance level, it could also benefit from a series of short liquidations. For example, experienced analyst Ali Martinez believes that $105,000 is a critical price point, and breaking through this level could trigger up to $23.65 million in short liquidations.

Cryptocurrency analyst Titan pointed out that the current fair value gap of Bitcoin (FVG) is between $98,000 and $102,000. Although the market was generally bearish yesterday, #BTC still strongly held its daily FVG. As long as this area of support holds, the market structure remains bullish.

At the same time, Bitcoin has seen strong inflows of funds from institutional investors. According to SoSoValue data, in April, the BTC spot ETF attracted $2.97 billion in funds, a significant increase from the outflow of $768 million in March.

In addition, on-chain data shows that more and more investors are withdrawing BTC from exchanges, which may be because they expect BTC to rise significantly in the coming months.

#比特币价格预测 # Wyckoff accumulation pattern #Bitcoin bullish signal