Bitcoin flashes signal that could ‘explode to targets’ above $200,000

With Bitcoin (BTC) consolidating above $80,000, historical trends suggest the maiden digital currency could be building momentum for a major breakout, potentially targeting $200,000 next.

The possibility of this long-term target is supported by Bitcoin’s position above its one-week moving average 50 (1W MA50). This level has consistently acted as an anchor for bullish breakouts, according to analysis by online trading expert TradingShot.

In a TradingView post on March 21, the analyst noted that Bitcoin’s historical cycles follow a familiar pattern: a bear market bottom, an initial rally attempting to break above the “all-time high lower highs” trendline, and a steady climb within a ‘growth channel.’ 

This channel has repeatedly served as a stepping stone, guiding BTC higher until it eventually breaks out, triggering a parabolic rally.

Bitcoin price analysis chart. Source: TradingView/TradingShot

Currently, Bitcoin is on the verge of such a breakout, with the only remaining resistance being the ‘growth channel’ ceiling. If Bitcoin clears this level, it could pave the way for a surge toward $200,000 or beyond.

According to TradingShot, even if Bitcoin continues growing within the channel before breaking out, a move toward $150,000 remains realistic. However, if history repeats itself, a breakout could lead to exponential gains driven by unprecedented adoption and capital inflows.

“This is the only resistance level that has yet to be broke on this cycle. If it does, the market will explode to targets above $200,000  that will start putting it to capitalization levels that would require earth shattering catalysts in terms of adoption,” the analyst noted. 

The 1W MA50 remains a key support throughout this process, reinforcing Bitcoin’s bullish trajectory. As reported by Finbold, TradingShot had projected that Bitcoin could target $150,000 in September 2025. 

Bitcoin’s path to $90,000

As things stand, Bitcoin still has a long way to go before hitting the $150,000 milestone, with $90,000 as the next major resistance level. Cryptocurrency trading expert Market Maestro reinforced this outlook, noting that a weekly close above $84,000 could open the door to $90,000.

Generally, sentiment around Bitcoin and the broader cryptocurrency market remains subdued, failing to capitalize on several potential catalysts for price growth. However, investor confidence in spot exchange-traded funds (ETFs) seems to be rising after recent massive outflows.

To this end, data published by AI-powered on-chain analytics platform Spot On Chain on March 22 indicates that, over the past week, the total amount of funds flowing into spot Bitcoin ETFs stood at $785.6 million. 

BlackRock’s IBIT accounted for the largest share, with 6,342.47 BTC worth $535.58 million. Overall, Bitcoin ETFs saw daily inflows last week, with BlackRock consistently leading in investments.

Furthermore, investors had anticipated a Bitcoin rally fueled by developments such as former President Donald Trump declaring the asset a strategic reserve. However, Bitcoin has been weighed down by broader market sentiment, largely influenced by economic uncertainty stemming from U.S. tariffs and ongoing trade wars.

While Trump is viewed as bullish for digital assets, his return to office initially pushed Bitcoin to a new high, but the cryptocurrency has since pulled back, erasing nearly 20% of millionaire holders. 

There was also speculation that other countries might follow the U.S. in adopting Bitcoin as a reserve asset. However, hesitation remains. Specifically, the Swiss National Bank (SNB) has dismissed the idea, citing concerns over volatility, security risks, and regulatory uncertainty.

Bitcoin price analysis 

Bitcoin was trading at $83,978 at press time, with consolidation evident on the daily and weekly charts. The digital currency has recorded modest declines of 0.13% and 0.21%, respectively.

Bitcoin seven-day price chart. Source: Finbold

In summary, Bitcoin needs to hold above the $80,000 support to maintain its momentum toward $90,000.

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