Bitcoin just broke through another major level and the chart suggests this might only be the beginning. BTC price has now reached around $116,894 and has already set a new all time high close to $118,800. But according to analyst Crypto Patel, the momentum is still very much alive and the next leg up could be even more explosive.

Crypto Patel points out something important. Bitcoin just completed a Juda Swing move. This is a smart money concept where price intentionally dips to grab liquidity before reversing in the opposite direction. The trap shakes out impatient traders and sets up a launchpad for a much bigger move.

In this case, BTC pulled off that swing perfectly, dipping into the liquidity zone and tapping into the weekly Fair Value Gap. That was the final step needed before what Patel calls a range expansion and that expansion has already started.

The chart shows several key Fibonacci based price targets for this expansion. Starting from the most conservative, the first major target sits at around $121,722. If the BTC price maintains current momentum, the next level is projected around $126,236.

Crypto Patel outlines further targets at $134,983 and the most ambitious one at $140,344. This means that if Bitcoin follows the full range expansion laid out by the technical model, it could rise another 20% from here and possibly more.

That would push BTC into price discovery all over again with potential short squeezes and retail FOMO kicking in as it breaks above $120,000 and heads for $130,000 or even $140,000.

As of now, Bitcoin is hovering near the $116,894 mark. This aligns closely with the 0.27 Fibonacci level at $115,937, which is acting as a resistance zone. A strong weekly close above that line could confirm the breakout and set the stage for the next target near $118,200.

If Bitcoin rejects from here and pulls back, the next support level is around $112,128. But even if a short term correction happens, the broader trend according to this chart still favors upward expansion.

Crypto Patel’s analysis is based on clear chart structure, Fibonacci math, and past BTC behavior. The path from $118,000 to $140,000 may not be a straight line, but the structure is in place for it to happen. The weekly timeframe is especially significant as it tends to filter out noise and reveal the real directional bias of smart money.

Whether Bitcoin hits $140,000 in this cycle will depend on how it reacts to these critical levels. But with BTC forming higher highs and respecting bullish setups like the Juda Swing and FVG retests, the odds are stacking up.

In the end, Bitcoin is showing strength. And if the expansion continues the way Crypto Patel predicts, we might just see BTC rewrite the record books again with six figures starting with a 1 and a 4.

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

The post How High Can Ongoing BTC Spike Go? Here’s What Key Indicators Show appeared first on CaptainAltcoin.

383 +