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Bitcoin’s initial break above the 6-figure price point in 2024, followed by a move to an all-time high of $126,000, has reinforced expectations for higher price levels. Even as the price continues to trend below $100,000, bullish momentum remains a central theme for long-term investors, with ongoing predictions that Bitcoin could return to 6-figure levels and eventually set new all-time highs.
In a TradingView post, analyst Setupsfx highlighted features of the Bitcoin chart that he described as supportive of a continued recovery. The analysis notes that after Bitcoin reclaimed $70,000 earlier in the week, it set the tone for another recovery trend, suggesting the price could climb as high as $200,000.
The post emphasizes that, unlike earlier moves, the break above $72,000 was accompanied by strong bullish volume. In the analyst’s view, this indicates meaningful demand for the cryptocurrency, which could help sustain the uptrend rather than trigger another sharp decline.
Based on the current trend, the analysis sets several major targets:
While some market participants view a rally to $200,000 as unrealistic, the analyst argues it remains possible on a long-term basis. The $200,000 level is presented as a longer-horizon target rather than an immediate expectation.
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