Bitcoin (BTC) to $140,000? XRP Unchained, Solana (SOL) at Risk of Hitting $100?
The post Bitcoin (BTC) to $140,000? XRP Unchained, Solana (SOL) at Risk of Hitting $100? appeared on BitcoinEthereumNews.com.
XRP flashes green Solana’s positioning On the daily chart, Bitcoin’s price action has been following a pattern that looks like a classic wave, but it is unclear if the second wave — the crucial surge that could push BTC toward the elusive $140,000 threshold — will materialize. After an unsuccessful attempt to break through the descending trendline resistance that has been limiting momentum since June, Bitcoin is currently trading close to $109,000. The chart displays the first wave of the Bitcoin rally, which began in mid-April when the price surpassed $95,000 and reached highs of about $112,000 in the same month. A foreseeable pullback followed this initial impulse wave, successfully retesting the 50-day moving average as dynamic support. A second strong upward leg, which would ideally place Bitcoin convincingly above $120,000 and pave the way for a parabolic move toward $140,000, is what traders have been anticipating ever since. BTC/USTD Chart by TradingView But the lack of action is starting to worry people. Even though the volume profile shows several daily closes above short-term moving averages, there has not been any discernible increase in buying pressure. Stated differently, it seems that the market is holding its breath in anticipation of a catalyst that has not yet shown interest. The psychological and technical threshold that many analysts consider to be a confirmation line for a fully developed bull market is $140,000, and it is not an arbitrary number. We might be seeing a protracted consolidation instead of the spectacular rally that traders are hoping for if Bitcoin is unable to generate a sustained second wave. The absence of overbought conditions, which can be advantageous (room to run) but also reflect a lack of interest among major market players, is another indication of RSI readings close to 56. It appears that Bitcoin…
Filed under: News - @ July 8, 2025 2:22 am