Bitcoin Breakout Sets Stage for Potential Rally to $140K as BlackRock’s IBIT Confirms Bullish Flag
Bitcoin (BTC) surged past $111,000 this week, and technical indicators suggest the rally may be far from over. A breakout pattern on BlackRock’s spot bitcoin ETF (IBIT) is signaling a potential 30% upside, which could send BTC beyond $140,000 in the coming weeks.
IBIT, which mirrors the spot price of bitcoin, broke above its May high of $63.70 on Wednesday, climbing 2.85% in a single session. This move confirmed a bull flag breakout on its daily chart—a classic pattern in technical analysis that typically precedes strong continuation rallies after periods of consolidation.
Technical Setup Hints at Strong Upside
The flag pattern formed over a five-and-a-half-week consolidation beginning in May. With the breakout now confirmed, chart analysts apply the measured move method, which estimates that prices could rise by an amount similar to the prior rally—in this case, around 30%.
That projection puts BTC in range of $140,000 or higher, aligning with growing bullish sentiment among market participants. However, analysts caution that sudden shifts in macroeconomic conditions or investor sentiment could invalidate the setup and drive BTC back into its prior range.
Market Veteran Sees Similar Trend
Legendary chartist Peter Brandt echoed the bullish case, noting that bitcoin’s technical structure continues to support a move toward $134,000 if current momentum holds.
With ETF inflows picking up and broader market sentiment improving, traders and institutions alike will be watching closely to see if this breakout has the strength to carry BTC to new highs.
