According to ChainCatcher and Cointelegraph, even with a sideways market, Bitcoin traders are not pessimistic about the price trend. The current community consensus is not bearish, and many believe the bull market is far from over, with many thinking Bitcoin is preparing for a new price discovery period.
Trader Alan Tardigrade stated that Bitcoin is showing an ascending expanding wedge uptrend, with Bitcoin rising 49%, 125%, and 68% respectively each time this signal appeared since 2023.
Another trader, Merlijn, pointed out that Bitcoin's current trend shows a classic price bottom structure in an inverted head and shoulders pattern, with a potential near-term price target of $140,000.
