Captain

Key takeaways:
<ul>
 <li>Another Bitcoin price pullback to $117,000 is possible before the uptrend resumes.</li>
 <li>A classic chart pattern puts BTC price on course for $145,000 in the next few months.</li>
</ul>
 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) reached a six-week high of $119,500 on Thursday, following a 10% rise from its local low of $108,650 seven days prior. BTC has now reclaimed a key support level as prices continued to consolidate below its $124,500 all-time high.
Can Bitcoin see new all-time highs in the next few days?
<h2 id="bitcoin-bull-flag-breakout-hints-at-145-000">Bitcoin “bull flag” breakout hints at $145,000</h2>
After rallying to its current <a href="https://cointelegraph.com/news/bitcoin-new-all-time-high-traders-asking-has-btc-price-top-124k" rel="noopener noreferrer nofollow" target="_self">all-time high of $124,500</a> on Aug. 14, BTC price pulled back to areas below $110,000, forming a bull flag on the daily chart.
A <a href="https://cointelegraph.com/news/what-is-a-bull-flag-chart-pattern-and-how-to-spot-it" rel="noopener noreferrer nofollow">bull flag</a> is a bullish continuation pattern that occurs after a significant rise, followed by a consolidation period at the higher price end of the range.&nbsp;
Related: <a href="https://cointelegraph.com/news/bitcoin-rallies-as-us-government-shutdown-begins-will-btc-gains-continue" rel="noopener noreferrer nofollow">Bitcoin rallies as US government shutdown begins: Will BTC gains continue?</a>
 The latest data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank">TradingView</a> shows that BTC has broken out of the bull flag, positioning it for significant gains ahead.
Bitcoin’s “bullish flag upside breakout is confirmed,” <a href="https://x.com/CryptoFaibik/status/1973606339311182166" rel="noopener noreferrer nofollow" target="_blank">said</a> analyst Captain Faibik in his latest analysis on X, pointing out that the mid-term target is at around $140,000.
<figure><img src="https://s3.cointelegraph.com/uploads/2025-10/0199a49c-d4d9-7a6b-a5f9-db0ba62c7b29" title="" alt="Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis">
 <figcaption style="text-align: center;">BTC/USD daily chart. Source: Captain Faibik&nbsp;
 </figcaption>
</figure>
Bitcoin is “closing strong with a clean breakout of this bull flag,” <a href="https://x.com/Gladiator21M/status/1973512983956664771" rel="noopener noreferrer nofollow" target="_blank">echoed</a> pseudonymous analyst Gladiator in a Thursday X post, adding:
<blockquote>
 “This could get explosive and move fast.”
</blockquote>
A confirmed breakout from the pennant could open the door for the next leg up, toward $145,400, representing a 22% increase from its current price level.
<figure><img src="https://s3.cointelegraph.com/uploads/2025-10/0199a49c-dbd0-78a7-8320-f6e7bbfa8222" title="" alt="Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis">
 <figcaption style="text-align: center;">XRP/USD daily chart. Source: Cointelegraph/<a href="https://www.tradingview.com/x/DJnbsWZq/" rel="noopener noreferrer nofollow" target="_blank">TradingView</a>
 </figcaption>
</figure>
 Bitcoin's MVRV extreme deviation pricing bands suggest that after <a href="https://cointelegraph.com/news/bitcoin-pushes-118k-us-govt-shutdown-non-event" rel="noopener noreferrer nofollow" target="_self">BTC price broke past $117,000</a>, it could expand further before the unrealized profit held by investors reaches an extreme level, or the uppermost MVRV band at $139,300, as shown in the chart below.
<figure><img src="https://s3.cointelegraph.com/uploads/2025-10/0199a49c-e797-726b-a213-9ff368c4535a" title="" alt="Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis">
 <figcaption style="text-align: center;">Bitcoin extreme deviation pricing bands. Source: Glassnode
 </figcaption>
</figure>
<h2 id="bitcoin-could-drop-to-test-support-first">Bitcoin could drop to test support first</h2>
With the bulk of Bitcoin’s apparent sell-side liquidity absorbed during the <a href="https://cointelegraph.com/news/bitcoin-hits-119-5k-but-rsi-warns-btc-price-pullback-next" rel="noopener noreferrer nofollow">move to $119,500</a>, some analysts warn that a brief flush down to test $117,000 as support could be the next move for BTC price.&nbsp;
Bitcoin “has taken almost all the liquidity above the recent highs, so I would expect some stalling here,” <a href="https://x.com/CryptoMichNL/status/1973642353672966491" rel="noopener noreferrer nofollow" target="_blank">said</a> MN Capital founder and trader Michael van de Poppe in an X post on Thursday.
An accompanying chart suggested that Bitcoin could drop to retest the support at $117,000 before resuming its recovery.
<figure><img src="https://s3.cointelegraph.com/uploads/2025-10/0199a49c-eb22-7001-ad56-0409d0d326df" title="" alt="Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis">
 <figcaption style="text-align: center;">BTC/USD daily chart. Source: Van de Poppe
 </figcaption>
</figure>
The BTC liquidity map <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMap" rel="noopener noreferrer nofollow" target="_blank">shows</a> bid clusters stacked between $116,000 and $117,800.
<figure><img src="https://s3.cointelegraph.com/uploads/2025-10/0199a49c-efbe-7b02-a271-74a9deed9637" title="" alt="Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis">
 <figcaption style="text-align: center;">Bitcoin liquidation heatmap. Source: CoinGlass
 </figcaption>
</figure>
 Fellow analyst Ted Pillows <a href="https://x.com/TedPillows/status/1973668274580926631" rel="noopener noreferrer nofollow" target="_blank">said</a> that Bitcoin must hold the $117,000 support level to continue the uptrend, or risk a drop toward $113,500.
He added:
<blockquote>
 “The only thing between BTC and a new ATH is the $120,000 resistance level.”
</blockquote>
As <a href="https://cointelegraph.com/news/bitcoin-120k-very-quick-breakout-150k-charles-edwards" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, a decisive break above $120,000 could lead to a breakout toward new all-time highs above $150,000, due to <a href="https://cointelegraph.com/news/bitcoin-s-monthly-gain-defies-history-is-a-50percent-q4-rally-to-dollar170k-next" rel="noopener noreferrer nofollow" target="_self">seasonality</a> and <a href="https://cointelegraph.com/news/bitcoin-institutional-volume-hits-75-on-coinbase-new-btc-price-signal" rel="noopener noreferrer nofollow">institutional demand</a>.
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.

Bitcoin’s next ‘explosive’ move targets $145K BTC price: Analysis

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