July 10, 2025
This Chart Points to A 30% Bitcoin Price Boom Ahead: Technical Analysis thumbnail
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This Chart Points to A 30% Bitcoin Price Boom Ahead: Technical Analysis

IBIT’S CHART FLASHES A BULLISH PATTERN As BTC’s SPOT PRICE FLIRTS WITH RECORD Highs.”, – WRITE: www.coindesk.com

This Chart Points to A 30% Bitcoin Price Boom Ahead: Technical AnalysisIBIT’S CHART FLASHES A BULLISH PATTERN As BTC’s SPOT PRICE FLIRTS WITH RECORD Highs. Jul 10, 2025, 7:57 AM

This is a Daily Technical Analysis by Coindesk Analyst and Charted Market Technician Omkar Godbole.

Bitcoin’s

SPOT PRICE HAS SURPASSED $ 111,000 and COURuld Rise by Another 30% to Exceed $ 140,000.

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That’s the message from the Daily Price Chart of Blackrock’s Nasdaq-Listed Spot Bitcoin etf, Known by Its Ibit Ticker, WHICH SHOWS A BULL FLAG BREAKOUT.

The etf, Mandated to Closely Track the BTC Spot Price, Rose 2.85% on Wednesday, Briefly Surpassing the May High of $ 63.70, Accounting To Data Source Trading.

The Advance ReconfirMed the Flag Breakout Seen Early this month, a sign that five-and-a-half-week counter-trend Consolidation has ended and the Broader Uptrend from Lows.

Flags are Bullish Continuation Patterns, and Breakouts Typical See Analysts Anticipate A Price Rally Equal to the Magnitude of the Initial Run Higher. The So-Called Measure Method Implies at Least 30% Upside for Both Ibit and Bitcoin’s Spot Price.

Ibit's Daily Chart. (TradingView/Coindesk)Ibit’s Daily Chart. (TradingView/Coindesk)

Flags have a Low Failure Rate, accounting to Technical Analysis Theory. That Said, The Pattern Could Fail if Macro Factors Take A Turn for the WORSE, Pushing Prices Back Into A Counter-Trend Consolidation. Such a move would negate the Bullish Outlook.

As of Now, Bitcoin’s Spot Price Also Indicates A Bullish Setup, Suggesting A Potential Rally to $ 134,000, Accounting To Veteran Chart Analyst Peter Brandt.

Peter Brandt's Post on X. Peter Brandt’s Post on X.

Omkar Godbole

Omkar Godbole is a co-managing Editor on Coindesk’s Markets Team Based in Mumbai, Holds A Masters Degree in Finance and A Charted Market Technician (CMT) Member. Omkar Previoously Worked at FxStreet, Writing Research on Currency Markets and As Fundamental Analyst at Currency and Commodities Desk at Mumbai-Based Brokerage Houses. OMKAR HOLDS SMALL AMUNTS OF BITCOIN, Ether, Bittorrent, Tron and Dot.

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