Bitcoin Price Forecast: A Break at This Level May Propel BTC Toward Record Highs – Potential Major Surge Ahead?

Bitcoin remains in a consolidation phase within a bullish pennant pattern after its remarkable vertical rise from around $98,000 to $123,000 in recent weeks.

Currently holding support above the $116,000 mark and trading close to $119,000 at the time of this writing, market analysts indicate that BTC could advance toward new all-time highs if it successfully breaks through the $120,000–$123,000 resistance area.

If $119K Support Remains, BTC Would Aim for the $125K Breakout Target

Chart analysis shows that Bitcoin has been following a recurring trend established since 2023, marked by several weeks of consolidation followed by significant bullish movements that generally yield around 50% gains, akin to the rally observed from April’s lows to current price levels.

Bitcoin has been repeating this pattern since 2023.
50% increase -> consolidate -> 50% increase.
Next consolidation range: $135k – $165k.
Let’s go. #Bitcoin #BTC pic.twitter.com/Mj2OaqJkP3

— dmanAG (@dman_AG) July 18, 2025

Continuing this established trend, Bitcoin has set its local bottom at current levels, with $BTC poised for another upward movement following last week’s correction.

As per CryptoQuant’s analysis, Bitcoin miners have emerged as the main sellers driving the recent consolidation phase.

Total miner outflows, which represent Bitcoin transfers from mining wallets, peaked at 16,000 BTC on July 15, marking a significant outflow event that was the largest since April 7.

Source: CryptoQuant

Technical analyst CryptoMitchX indicates that the selling pressure has now significantly decreased, forecasting a BTC rally to $125,000 early this week as US markets open and respond to developments in cryptocurrency legislation and President Trump’s positive remarks on cryptocurrencies.

If the $125,000 level is successfully surpassed, Bitcoin could initiate its next upward leg toward the $133,000–$140,000 target range, which seems attainable in the medium term.

#Bitcoin – What’s Next?
The Big Sunday Report, All You Need to Know
Technical and Psychological Analysis: In last week’s Sunday report, I mentioned we would see a minor pullback since we had just broken out from a descending broadening wedge. As you can see, it occurred precisely… pic.twitter.com/CyKiXo2MQt

— Mr. Wall Street (@mrofwallstreet) July 20, 2025

Bitcoin Price Technical Analysis Indicates $125k Breakout Imminent

From a technical standpoint, the Bitcoin (BTC/USDT) daily chart illustrates a consolidation phase between $116,000 and $121,000 following the strong rally.

The price is currently around $119,000, with the market establishing a narrow distribution range just below the anticipated $125,000 all-time high zone.

Source: TradingView

The Fair Value Gap (FVG) located near the $105,000–$110,000 area acts as a structural support level, preventing deeper retracements.

Momentum indicators show consistent higher lows and RSI readings between 66–68, indicating further upside potential without entering extremely overbought territory.

If the price undergoes a slight pullback to retest the FVG or lower consolidation boundaries, a decisive breakout above $121,000 could drive Bitcoin toward $125,000 and potentially establish new highs beyond that point.

Bitcoin Hyper Experiences 241% Staking Returns Attracting $3.9M

As Bitcoin’s rally cools, investors are shifting their focus to smaller, rapidly moving projects — with Bitcoin Hyper (HYPER) at the forefront.

This new Bitcoin Layer-2 project is designed to enhance the speed and cost-effectiveness of BTC, supporting modern decentralized applications.

The project has already secured over $3.9 million, with its token priced at just $0.01235 during the ongoing presale.

HYPER also provides up to 241% in staking rewards, making it one of the most appealing early-stage opportunities currently available.

Participants can join the presale through the Bitcoin Hyper website or the Best Wallet app, with updates accessible via the project’s X and Telegram channels.

The post Bitcoin Price Prediction: If This Level Breaks, BTC Could Blast Toward New All-Time Highs – Biggest Rally Coming? appeared first on Cryptonews.