Bitcoin (BTC) has seen a notable uptrend this week, propelling the asset’s value to $67,000 as it aims for a new all-time high following a challenging start to May.
One prevailing market sentiment suggests that Bitcoin’s next record-high target is $100,000, with speculation mounting that the milestone might be attained during the projected post-halving rally.
In line with this sentiment, trading expert TradingShot shared insights in a TradingView post on May 18, drawing from Bitcoin’s technical indicators to outline the potential factors that could drive the asset to $100,000 and a possible timeline.
TradingShot’s analysis centered around the inverse head and shoulders (IH&S) pattern, a bullish reversal formation observed in technical analysis. Since May 6, the expert noted that expectations have been high for Bitcoin to break out above the lower highs trendline, a key indicator for the IH&S pattern. True to expectations, Bitcoin duly delivered on this fron
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