Bitcoin’s Path to $10,000: Chart Indicators Suggest a Rise to $115,000

Over the past week, Bitcoin has displayed limited fluctuations, with prices shifting between $105,000 and $101,000, resulting in a modest increase of 0.60%. The leading cryptocurrency has experienced a market slowdown in the last fortnight after a notable 10.7% increase seen earlier in May. Crypto analyst TATrader_Alan, known as Trader Alan, has pointed out a potential bullish trend suggesting a target price near $115,000.

Bitcoin on the Rise: Targeting $115,000

During an ongoing correction in the cryptocurrency market in 2025, Bitcoin experienced a significant drop from $109,000 in January to under $75,000 by mid-April. However, after reaching a local low of $74,600, the leading cryptocurrency has shown a remarkable recovery, climbing over 39.1% in the past month to a local high of $105,800.

In a post on May 16, Trader Alan shared a notable technical analysis regarding this upward trend, emphasizing that Bitcoin often achieves a similar dollar increase after certain periods of consolidation. The analyst’s trading chart indicates that after a near $10,000 surge, Bitcoin typically undergoes a 7-10 day phase of sideways trading before continuing its upward trajectory.

This bullish behavior can be observed in Bitcoin’s progress from $75,000 to $85,000, then to $95,000, and ultimately to $105,000. Based on this trend, it is anticipated that Bitcoin could reach the $115,000 mark after breaking free from its current consolidation phase. Should this scenario unfold, Bitcoin would record a 10.57% increase from its present levels, entering new price territory.

Such price dynamics are typical of a robust upward trend characterized by healthy intervals of rest. These consolidation phases usually allow the market to stabilize following sharp increases, enabling traders to gather positions in anticipation of the next growth phase. Notably, these zones often become new support levels, reinforcing the strength of the bullish market structure.

Bitcoin Whales Continue Accumulating

In related news, renowned OKC Partner and Binance influencer Ted Pillows has reported that Bitcoin whales are maintaining a strong accumulation trend. On May 15, the largest holders of Bitcoin acquired an additional 2,180 BTC worth approximately $226,750,000, indicating robust market confidence.

Typically, significant purchases by Bitcoin whales are considered a bullish indicator, particularly in the context of the current upward trend, suggesting strong potential for future price growth aligning with Trader Alan’s forecast.

At the time of writing, Bitcoin is trading at $103,281 after experiencing a 0.90% decrease over the past day. Concurrently, the asset’s trading volume has decreased by 15.76%, pointing to a reduction in market interest.