Bitcoin has made a significant move in recent hours, as according to TradingView data, it surpassed the 122,000 dollar mark and attacked the historic high of 123,000 dollars from mid-July 2025. This sharp rise came after a 9% correction, which proved to be a short-term pause in an otherwise upward trend.

Bitcoin started attack on historic high

A key moment was the breakout from a descending flag pattern – a technical formation often signaling a continuation of the uptrend. This phenomenon has appeared several times during the current cycle and has each time been associated with a significant price boost. The theory suggests that after the flag formation ends, a rise similar to the one before its formation follows.

According to current estimates, this could mean the price of Bitcoin will reach the range of 136,000 to 137,000 dollars. This target is supported not only by the short-term formation but also by a longer-term flag that started forming back in June 2025.

Double confirmation of growth trend

Double confirmation of the same price target is considered by traders a strong signal that increases the probability of further growth. Moreover, trading volumes are rising on the market and investor sentiment remains positive, which according to Alternative data signals another phase of greed.

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Of course, even with such strong technical indicators, the cryptocurrency market is highly volatile and unpredictable. Historical experience shows that sharp increases can quickly be followed by sudden drops. Therefore, it is important to approach investing with caution and consider risks.

Although everything points to continued growth, the price may also react to external factors – from macroeconomic news, through regulations, to news about large transactions. Bitcoin thus stands at a threshold that could mark the beginning of a new era in its price history. If the predictions come true, surpassing the current high could open the way to even more ambitious targets.