‘Obvious’ Bitcoin price breakout signal is flashing for the first time since 2024

Key points:

• Bitcoin’s “cleanest trend indicator” is flashing bullish for the first time since mid-2024.

• Previous signals mostly resulted in a BTC price blow-off top over the coming year.

• Market commentators remain firmly bullish on price trajectory during consolidation after Bitcoin’s latest all-time high.

Bitcoin (BTC) is prepared for its “next major leg up” as a long-term indicator triggers for the first time since mid-2024.

Analysis uploaded to X by trading account Stockmoney Lizards on May 28 described an “obvious” BTC price breakout signal.

Analysis on Bitcoin breakout signal: “We’re there”

Bitcoin is ready to repeat its run to a cycle top, just like in 2016 and 2020, Stockmoney Lizards reports.

The Optimized Trend Tracker (OTT) tool, which offers price trend insights using moving averages and average true range data, is primed for Bitcoin’s next blow-off top.

“The pattern is so obvious it hurts,” the X post claims, calling OTT the “cleanest trend indicator you can use for macro moves.”

In previous cycles, price retested the cluster of OTT trend lines, going on to highs after cementing them as support. This time, two retest episodes have occurred, with the latter now appearing to come to an end.

“We just broke out of the monthly OTT bands. Again,” the post concludes. 

“OTT bands show you when assets are ready for their next major leg up – and we’re there.”

In terms of targets, Stockmoney Lizards offers up to $200,000 for 2025, with a possible “extension” to $250,000 next year.

Consensus calls for $120,000 BTC price

As Cointelegraph reported, optimism over the Bitcoin bull market continues despite data from Cointelegraph Markets Pro and TradingView showing the price lingering inside its latest consolidation structure.

Related: Bitcoin whales keep buying as BTC price dip targets include $94K

Near-term forecasts see $130,000 or more, even as the market shrugs off both macroeconomic developments and high-profile speakers at the ongoing Bitcoin 2025 conference.

Last year’s conference nonetheless preceded a 30% BTC price crash, leading to concerns that “market memory” may deliver a similar outcome in 2025.

Examining market activity, onchain analytics firm Glassnode likewise sees a $120,000 visit on the horizon as part of price discovery.

“As the market moves into a phase of price discovery, the $120k level appears as a key zone of interest, with sell-side pressure expected to accelerate in and around this zone,” it summarized in the latest edition of its regular newsletter, “The Week Onchain.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.