Analysis: BTC is expected to rise to $130,000 in August, but there may be a risk of a pullback

Odaily News Analyst Peter Brandt previously predicted that the price of Bitcoin would rise to $125,000 to $150,000 in August or September, noting that it would show a multi-year parabolic uptrend, and as of July his prediction has been accurately fulfilled. The analysis pointed out that Bitcoin has entered the breakout phase of what appears to be a bull flag pattern, which is confirmed by the parallel trend lines formed after the strong upward trend (flagpole). Currently, BTC is expected to rise to $130,000 in August, which is the upside target of the flag measured by adding the flagpole height to the breakout point. However, Peter Brandt warned that Bitcoin may experience a 50% correction after reaching the $125,000 to $150,000 range. However, some analysts believe that the rally will continue after breaking through the $150,000 target. (Cointelegraph)