If current conditions hold, analysts forecast Bitcoin could reach $134,000, targeting the symmetrical triangle pattern, or even $160,000 based on a bull flag pattern, representing potential gains of 21% to 45%.

Currently, Bitcoin trades around $111,700 with a daily volume of $88.74 billion, maintaining its position as the largest cryptocurrency with a market cap of $2.21 trillion and a dominance of 58.2%.

The recent decline did not break Bitcoin's broader bullish trend but helped clear excessive altcoin leverage, with bullish patterns like the symmetrical triangle and bull flag still considered valid.

A key condition for a bullish recovery is Bitcoin maintaining its price above $109,600 and reclaiming resistance between $115,900 and $117,000, which would strengthen its bullish outlook.

Bitcoin's price has stabilized around $111,000 after recent volatility, with technical analysis showing support at $109,600, aligning with a symmetrical triangle pattern on the daily chart.

Despite the recent crash triggered by macroeconomic concerns, PlanD sees this as a precursor to a major rally, similar to the March 2020 surge, and remains optimistic about Bitcoin's long-term bullish potential.

The market experienced a significant crash on Friday following US President Donald Trump's announcement of a 100% tariff on Chinese goods, which led to $19 billion in crypto liquidations.